Posted BY: Sarah Arnold
Federal authorities are reportedly investigating Tesla CEO and billionaire Elon Musk over his proposed $44 billion purchase of social media giant Twitter.
According to filings submitted by Musk’s legal team, he is being scrutinized over his attempted acquisition, however, it is unclear what authorities are investigating.
Twitter claims that it has asked Musk’s attorneys for months to produce their communications with federal authorities, however, they have not done so.
According to an October 6 report by Bloomberg, “Elon Musk is presently under investigation by federal authorities for his conduct in connection with the acquisition of Twitter.”
The social media’s lawyers requested Musk to provide documents because they “bear upon key issues in this litigation.”
It has not been made public which agencies are carrying out the investigation nor which specific actions are being probed.
Twitter is accusing Musk’s legal team of failing to produce draft communications with the Securities and Exchange Commission and a slide presentation to the Federal Trade Commission as part of the ongoing litigation over whether Musk can walk away from the multi-billion dollar deal.
In June, Musk and Twitter clashed when the CEO tried to break off his end of the deal because he claimed the social media company was lying about the number of spam bots on the platform.