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Elon Musk below federal investigation tied to Twitter deal -Twitter courtroom submitting By Reuters

© Reuters. FILE PHOTO: Tesla founder Elon Musk attends Offshore Northern Seas 2022 in Stavanger, Norway August 29, 2022. NTB/Carina Johansen by way of REUTERS/File Photograph

By Tom Hals and Sheila Dang

WILMINGTON, Del. (Reuters) -Elon Musk is below a federal investigation associated to his $44 billion takeover deal for Twitter Inc (NYSE:), the social media firm mentioned in a courtroom submitting made public on Thursday.

Twitter mentioned it requested for months that Musk’s attorneys produce their communications with federal authorities however that they had not executed so, and requested a Delaware choose to order the attorneys to supply the paperwork.

In late September, Musk’s attorneys supplied a “privilege log” figuring out paperwork to be withheld from discovery. The log referenced drafts of a Might 13 electronic mail to the U.S. Securities and Trade Fee and a slide presentation to the Federal Commerce Fee, Twitter mentioned.

“This sport of ‘conceal the ball’ should finish,” the corporate mentioned within the courtroom submitting.

An lawyer for Musk didn’t instantly reply to a request for remark.

Twitter’s courtroom request was filed on Oct. 6, the identical day the Delaware choose halted the litigation to permit Twitter and Musk to shut the takeover deal.

The SEC has questioned Musk’s feedback concerning the Twitter acquisition. In April, the SEC requested Musk whether or not the disclosure of his 9% Twitter stake was late and why it indicated that he supposed to be a passive shareholder. Musk later refiled the disclosure to point he was an energetic investor.

In June, the SEC requested Musk in a letter whether or not he ought to have amended his public submitting to mirror his intention to droop or abandon the deal.

The SEC and FTC didn’t instantly reply to requests for remark.



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