Social Media Company Twitter filed a case against Elon Musk for a $44bn deal to the takeover over Twitter. However, the social media company did not make clear what the investigation is for, nor which federal authorities are involved in it.
On Thursday, Twitter made the court filing public. And said that Elon Musk is under investigation related to his $44bn takeover of Twitter. Recently, Twitter sued Elon Musk over the issue and now wants him to close the deal. However, Tesla CEO Elon Musk claimed ‘’investigative privilege’’ when refusing to hand over documents it has sought.
‘hide the ball’
The social media company said in the court filing, “This game of ‘hide the ball’ must end”. But Elon Musk did not respond to a request for comment. In April, SEC questioned Elon Musk about the Twitter acquisition. Whether the disclosure of his 9% Twitter stake was late. Moreover, why it shows that he intended to be a passive shareholder. However, Musk indicate that he was an active investor.
The filing comes as the months-long saga of Mr Musk’s proposed Twitter purchase continues, during which the billionaire proposed a takeover, went back on the deal, and was then sued by Twitter to stick to his word.
The billionaire’s side then said he would go ahead with the deal, just days before a trial was set to take place to force the purchase through.