Elizabeth Warren, Elon Musk's Twitter Feud Escalates As Social Media Company Subpoenaes Democratic Senator

Zinger Key Points
  • Twitter demands all Warren, FTC, and SEC communications related to Musk, just days after she urged SEC to investigate Tesla.
  • Musk humorously responded to Warren’s tweet about Tesla board's inaction, requesting friendship and her favorite Halloween costume.

Adding to the ongoing saga between Sen. Elizabeth Warren (D-Mass.) and Elon Musk, Twitter on Thursday announced plans to subpoena Senator Warren.

What Happened: Musk's move is part of Twitter’s ongoing legal dispute with the Federal Trade Commission (FTC), with the tension rising a notch when Warren called for an investigation into possible conflicts of interest involving Musk’s roles as the CEO of both Twitter and Tesla Inc TSLA.

Musk is no longer the CEO of the micro-blogging platform.

The subpoena calls for the production of all communications between Warren and the FTC, as well as with the Securities and Exchange Commission, relating to Twitter or Musk, according to a court document filed Thursday.

Twitter's filing came days after Warren urged the SEC to investigate Tesla and its board of directors for potential conflicts of interest and misappropriation of corporate assets.

Warren’s concerns stem from Musk’s decision to buy Twitter in a $44-billion deal, of which $13 billion was debt and about $15.4 billion came from Musk's sale of Tesla shares.

Read also: No More Poop Emoji For The Media, Elon Musk Says He’s Gonna Send This To Reporters Instead

In a tweet, Warren shared her concerns about what she is said was a lack of action and oversight by Tesla’s board over any potential conflicts of interests between Musk and the electric car maker.

Musk, in his usual irreverent fashion, responded to Warren with a lighthearted plea for friendship and an off-topic query about her favorite Halloween costume.

The sandpaper-like discussion between Musk and Warren is just the latest in a series of legal tussles between the Tesla CEO and federal regulatory bodies.

Musk and the SEC have repeatedly clashed, notably over his tweet in 2018 where he claimed to be considering taking Tesla private at $420 per share.

In the latest dispute, Twitter asked a court to terminate a consent order from the FTC concerning data breaches, which comes in the wake of the company’s cost-cutting measures.

Twitter alleges bias and overreach by the FTC.

Read next: Biden Administration Secures AI Safety Pledges From 7 Tech Giants In Effort To Regulate The Technology

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In:
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!