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.

Why Is There A Federal Investigation?

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.

Elon Musk Finalizes The Deal

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%.