SEC HAS QUESTIONS FOR MUSK

The Securities and Exchange Commission (SEC) sent a letter to billionaire Elon Musk last month asking for more information about a May tweet of his saying he “cannot move forward” with a purchase of Twitter.

The SEC letter was sent before Twitter sued Musk on Tuesday in a bid to force him to complete his purchase of the social media company, which he backed out of last week.

SEC agents are inquiring about a May 17 tweet in which Musk wrote the Twitter deal “cannot move forward” because of his concerns about how many bots are active on its platform.

According to the SEC, the tweet may have violated policies around the document that must be filed with the federal agency before the purchase of more than 5 percent of the shares of a public company.