Musk fails to appear for court-ordered testimony in Securities and Exchange Commission’s investigation into his $44 billion acquisition of Twitter, now rebranded as X.
Musk's legal team has described the proposed sanctions as "drastic" and unwarranted./ Photo: Reuters
In a court filing on Friday, the SEC said the sanctions motion would seek an order to show cause for why Musk should not be held in civil contempt for waiting until just three hours before the scheduled Sept. 10 testimony to advise he would not appear. It sued Musk last October after he refused to attend an interview for the probe. Musk has said the SEC was trying to"harass" him through subpoenas.
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