Overview

• Elon Musk missed a scheduled SEC testimony on September 10, citing an urgent need to oversee a SpaceX rocket launch.
• This is the second time Musk has failed to appear for SEC testimony related to his 2022 acquisition of Twitter, now called X.
• The SEC is investigating whether Musk violated securities laws during his purchase of Twitter stock and subsequent statements about the deal.
• Musk's lawyers argue that the SEC's demand for sanctions is drastic, noting that the testimony has been rescheduled for early October.
• The SEC is seeking to hold Musk in civil contempt and recoup travel costs incurred for the canceled testimony.