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The CEO of Tesla, Elon Musk, observes while the president of the United States, Donald Trump, talks to the press while stopping next to a Tesla vehicle in the southern porch of the White House on March 11, 2025 in Washington, DC.
Mandel and | AFP | Getty images
ELON ALMIZCLE He received a judicial summons last week in relation to the demand of the SEC for its alleged lack of dissemination of purchases of Twitter shares in 2022 before offering to buy the company, according to a presentation on Thursday.
A process server delivered the civil call to Musk on March 14, at the Spacex headquarters in Brownsville, Texas, according to the presentation. The server said that upon arrival at the Spacex facilities, three different security guards refused to accept the documents, and one told him he was invading. He “placed the documents on the ground,” and he left while the guards photographed him and his car.
The call refers to a case related to the eventual purchase of Musk Twitter, now known as X, for $ 44 billion in 2022. Before the acquisition, Musk built a position in the company of more than 5%, which would have required to reveal their holdings to the public within 10 calendar days of reaching that threshold.
According to him The Civil Complaint of the SECArchive in the United States District Court in Washington, DC, in January, Musk arrived more than 10 days late when informing that material information, “allowing him to pay for at least $ 150 million for the actions he bought after his beneficial property report was due.”
Once Twitter took over, Musk used the platform to promote the candidate and now President Donald Trumpand other republican candidates and causes. Musk, which is also CEO of TeslaHe spent about $ 290 million to help promote Trump to return to the White House and now serve within the administration as the main advisor of the president.
A Musk response, or its lawyers, will be presented on April 4.
The SEC, Elon Musk and Quinn Emanuel’s partner, Alex Spiro, his lawyer, did not immediately respond to comments requests
Trump’s White House has directed deep cuts In the budget and personnel of the independent federal regulatory agencies, including SEC. The regulator offered $ 50,000 to many of its employees, encouraging them to resign or retire before March 21.
The Trump administration has also invested A 15 -year policy that allowed the director of the SEC application to issue formal research orders. The agency will now require requests from formal investigation orders to be launched and approved by a vote of the SEC commissioners, a change that probably slows down probes such as the one that led to the demand of the SEC against Musk.
Musk previously established charges of fraud of civil values presented by the SEC in Tesla, its car business. In that matter, Musk and Tesla had to pay $ 20 million in fines, and Musk had to temporarily renounce his role as president of the Tesla Board.
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