The stock exchange and securities commission continues its demand of $ 150 million against Elon Musk that was presented during the Biden administration.
According to a judicial presentation on Monday, the billionaire of technology and head of the Government Efficiency Department agreed to respond to the lawsuit, which accuses him of deceptive investors when he bought millions of dollars in Twitter shares in 2022, before his acquisition of the company.
The SEC presented the case against Musk on January 14 on the waning days of the Biden Administration, and a representative of the SEC served Musk with the complaint and a summons earlier this month, although Musk challenges the validity of the service.
According to the terms of the agreement, Musk’s lawyers will submit a response to the complaint before June 6, waiting for the court’s approval.
“The parties respectfully claim that this commitment is reasonable and will retain judicial resources,” said the presentation.
Elon Musk looks when President Donald Trump organizes a cabinet meeting in the White House Cabinet room, on March 24, 2025, in Washington.
Win McNamee/Getty Images
Monday’s presentation marks the first time any of the parties has raised a deadline for Musk to respond to the complaint.
Musk’s lawyers could not be contacted immediately to comment on ABC News.
“They spend their time in S — So when there are so many real crimes that are unpunished,” Musk said in X in January in response to the demand of the SEC.
