The US SEC intends to impose sanctions on Musk because he did not appear in court to provide testimony on the Twitter acquisition case

According to Mars Finance, the U.S. SEC intends to impose sanctions on Musk for failing to appear in court as scheduled (September 19, 2024) and provide testimony to the financial regulator regarding the $44 billion Twitter acquisition. The SEC is also seeking monetary relief to cover travel expenses lost due to Musk's cancellation of the meeting, as well as "all other relief" that the court may grant to the SEC. Musk's legal counsel emphasized that the U.S. Securities and Exchange Commission has accepted the request to reschedule the meeting to October 3, 2024 in Los Angeles, California, and believes that the court's intervention is unnecessary. The letter explained that the only reason Musk was absent from the previous meeting was an emergency, and assured the court that he would attend the October meeting. (Cointelegraph)