The world’s Richest man Elon Musk is under a federal investigation related to his $44 billion takeover deal for Twitter Inc, the social media company reported in a court filing made public on Thursday.
Lawyers representing twitter stated that the company had appealed to Elon Musk’s attorneys to produce their communications with federal authorities for a few months. Still, they had not done so and asked a Delaware judge to order the attorneys to provide the documents.
Twitter reported that Last month, Musk’s attorneys issued an “Investigative Privilege” identifying documents to be withheld from discovery. However, the attorneys had not complied, citing ‘investigative privilege.’ Later the company requested the Delaware court to access the documents that Musk had given to authorities.
In the court filing, Twiter said that the game of ‘hide the ball’ must. An attorney representative, Musk, did not immediately give a response to a request for comment. On October 6, twitter court filed the request, and on the same day, Delaware Judge halted the litigation to allow Musk and Twitter to ink the takeover deal.
The SEC has inquired about Musk’s comments about the Twitter acquisition. In April, the SEC reportedly questioned Musk whether the disclosure of his 9 per cent Twitter stake was late and why he intended to be a passive stakeholder. Later, Musk refiled the disclosure to indicate he was an active investor. In June, SEC inquired whether Musk should have amended his public filing to reflect his intention to suspend or abandon the deal.