Twitter Filing: Musk Under Federal Investigation

Elon Musk is under investigation by US federal authorities for his $44B deal to take over Twitter, the social media company has asserted in a court filing made public Thursday.

Twitter Filing: Musk Under Federal Investigation
Image credit: Souvik Banerjee / Unsplash

Facts

  • Elon Musk is under investigation by US federal authorities for his $44B deal to take over Twitter, the social media company has asserted in a court filing made public Thursday.
  • While the platform's filing suggested that Musk was being investigated, it didn't describe the intent of the probe. "This game of 'hide the ball' must end," the filing asserted.
  • Musk agreed to buy the social media company in April, before changing his mind and trying to terminate the deal. He has since reversed his decision and agreed to the purchase; Twitter sued Musk in July to push him to close the agreement.
  • Twitter has said that attorneys for Musk have claimed "investigative privilege" when refusing to turn over documents that the platform requested.
  • The court filing asked a Delaware judge to order Musk to provide the withheld documents. The filing was made on Oct. 6 - the day the judge paused previous litigation between the two parties after Musk agreed to proceed with the Twitter purchase deal.
  • The judge has given Musk until Oct. 28 to close the purchase. If the deal isn't completed by then, a trial date will be set for November.

Sources: Reuters, BBC News, FOX News, Guardian, and Al Jazeera.

Narratives

  • Narrative A, as provided by Slate. This court filing is just the latest in a series of drama around Musk's acquisition of Twitter. His on-again-off-again purchase of the social media giant has been comically complicated, and his uncooperativeness is shady at worst and shenanigans at best. That the Feds are investigating is just another act in the play.
  • Narrative B, as provided by CNN. Musk likely intends to close the deal, and his reasons for the delay are likely tied to the time it takes to finish pulling together his previously announced financing arrangements. The pieces are coming together, and a Musk-owned Twitter is finally in sight.

Predictions