Elon Musk’s Tweets Drew More SEC Scrutiny as He Soured on Twitter Bid

Elon Musk’s tweets are under the microscope with regulators again, this time over a missive in May that cast doubt on whether he’d go through with his $44 billion takeover bid for Twitter Inc.

The billionaire drew scrutiny from the US Securities and Exchange Commission over a May 17 tweet that said the “deal cannot move forward,” according to correspondence posted publicly on Thursday. In a June 2 letter, the agency asked why that statement wasn’t a “material” change that should have been disclosed to investors in a formal amendment to his previous SEC filing. Musk’s lawyers responded that he didn’t see the need.