HomeCelebrityWhy Elon Musk Is Under Federal Investigation?

    Why Elon Musk Is Under Federal Investigation?

    The rant between Elon Musk and Twitter has been going on for a while now. And it seems that the earlier furious Musk is slowly losing the game. Letters and proposals have been flying past the two parties for some months now. Musk had been a forefront player until recently but now Twitter seems to have an upper hand.

    The conclusion has been made from the recent events that have been taking place. It seems like Musk is reconciling and re-analyzing his early moves. The billionaire has come to an agreement to acquire the platform at the original price that he had considered. Reports suggest that this move was made after his legal team sensed that he would lose ultimately if they went on with the trial. Finally, amidst all this mayhem, he also has been facing a federal investigation.

    Read More: Elon Musk Reveals The Real Reason Behind His Daughter Vivian Being Estranged From Him

    Why Is There A Federal Investigation?

    Elon Musk

    The news regarding the federal investigations came out on October 6 during the Delaware court proceedings. Twitter had asked to see the communications between the billionaire and the federal agents. It was unsealed Thursday. The investigation was in relation to Musk’s conduct in connection with the acquisition of Twitter. The social media platform wants these documents hoping that they have key issues in regard to the case. Though the platform has been asking for these papers for months, still there has been no response. Musks’ legal team issued a “privilege log” of papers to be withheld in discovery, which included emails and presentations.  

    Read More: Elon Musk Agrees To Complete His $44 Billion Twitter Deal. Here’s Why

    Elon Musk Finalizes The Deal

    Elon Musk

    Further proceedings have been discontinued regarding the trial. This is in light of finalizing the deal between the company and Musk. With doubts about losing the case, Tesla CEO has decided to buy Twitter at the original price he decided to pay $44 billion. Though trading on Twitter’s stocks had halted shortly, the deal spiked the share price by 13%.

    Read More: Why Did Elon Musk Change His Twitter Username To ‘Naughtius Maximus’? What Does It Mean?

    Naveena Prasad M
    Naveena Prasad M
    An ambivert and a feminist, Naveena is an ambitious girl bustling with ideas. Agatha Christie helped her plot her escape route through reading. Then on, reading and writing became her partners in crime! Chocolates, black tea, and salads are her first love. And she chills with crime thrillers and rom-com.

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