Elon Musk obtained summons within the SEC criticism in regards to the disclosure of Twitter

Elon Musk, CEO of Tesla, watches how US President Donald Trump speaks to the press when she stands next to a Tesla vehicle on the South Portico of the White House on March 11, 2025.

Almond and | AFP | Getty pictures

Elon Musk received a judicial summons in connection with the complaint of the SEC because of its alleged failure, the purchases of Twitter shares in 2022 before the company is purchased.

On March 14, a process server delivered the civil summons to Musk at SpaceX headquarters in Brownsville, Texas. The server found that when he arrived at the SpaceX facility, three different security officers accepted the documents, and one told him that he was entering. He “put the documents on the ground” and went while the guards photographed him and his car.

At a case in relation to Musk's ultimate purchase of Twitter, which is now known as X, the lectures refer to 44 billion US dollars in 2022. Before the acquisition, Musk built a position in company of more than 5%that would have required the disclosure of its inventory within 10 calendar days after reaching this threshold.

According to the SEC's civil complaint, submitted to the US district court in Washington, DC, Musk reported more than 10 days late in which he reported this essential information “so that he had undermined at least 150 million US dollars for shares that he had bought after his due financial report.”

As soon as he took over Twitter, Musk used the platform to promote the candidate at the time and now President Donald Trump as well as other Republican candidates and causes. Musk, who is also CEO of TeslaSpent around 290 million US dollars to drive Trump back to the White House and now serves as the top consultant of the president in the administration.

An answer from Muschus or his lawyers is due on April 4th.

The SEC, Elon Musk and Quinn Emanuel partner Alex Spiro, his lawyer, did not immediately answer inquiries about comments

Trump's white house has directed profound cuts in the budget and employees of independent federal supervisory authorities, including the SEC. The regulatory authority offered many of its employees 50,000 US dollars and encouraged them to step down until March 21st or to retire.

The Trump administration has also reversed a 15-year policy that enabled the SEC enforcement director to enable formal examination orders. The agency now demands applications for formal investigations, which are to be placed and approved by a votion of the SEC commissioners, a change that will probably slow down the probes like those that led to the complain of the SEC against Musk.

Musk previously raised civilian securities fraud relapses from the SEC in Tesla, its car business. On this matter, Musk and Tesla had to pay $ 20 million at each, and Musk had to temporarily give up his role as chairman of the Tesla Board.

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