Judge Rejects SEC Bid to Penalize Musk Over Missed Deposition

Quick Summary:

The SEC sought sanctions for Musk's failure to attend a Sept.10 deposition as ordered, contending that merely covering travel costs would not deter individuals from ignoring court directives, particularly someone of Musk's financial stature.

District Court in San Francisco determined that sanctions were unwarranted after Musk complied by testifying on Oct.3 and agreed to reimburse the SEC's travel costs of $2,923, reports Reuters.

Securities and Exchange Commission's (SEC) request to penalize Elon Musk for skipping a court-ordered deposition in its investigation into his $44 billion acquisition of Twitter, now known as X.

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Article Details

Author / Journalist: Bibhu Pattnaik

Category: Technology

Markets: United States

Topics: SEC News X Elon Musk Top Stories Twitter Tech AI Generated Sanction Benzinga Court rulling US88160R1014 TSLA

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-23 @ 17:00:31 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 452 words

Reading Time: 3 minutes read

Sentences: 24 lines

Sentence Length: 19 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 23780560

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