Enlarge / Senator Elizabeth Warren (D-Mass.) during a Senate Banking, Housing, and Urban Affairs Committee hearing on Thursday, May 18, 2023. (credit: Getty Images | Bloomberg)
Elon Musk’s X Corp. is serving a subpoena on Sen. Elizabeth Warren (D-Mass.), days after Warren urged the Securities and Exchange Commission to launch an investigation into Musk’s dual role running Tesla and Twitter.
Musk’s subpoena demands documents and communications related to Warren’s letter to the SEC, as well as Warren’s communications with the SEC and Federal Trade Commission. Musk is seeking documents going back to October 27, 2022, the day he completed his $44 billion purchase of Twitter.
Warren’s July 17 letter urged the SEC to investigate Tesla “regarding the actions of its Board of Directors in managing the apparent conflicts of its Chief Executive Officer, Elon Musk.” She wrote that Musk’s actions while running Twitter and Tesla simultaneously “have raised concerns about conflicts of interest, misappropriation of corporate assets, and other negative impacts to Tesla shareholders. Despite recent and repeated calls from investors to address these actions, the Board appears to have failed to uphold its legal duty to ensure that Mr. Musk act in the best interest of Tesla.”
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