🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

FTC demanded Twitter hand over internal documents related to owner Elon Musk - WSJ

Published 08/03/2023, 15:10
© Reuters

By Scott Kanowsky 

Investing.com -- The Federal Trade Commission sent letters to Twitter demanding that the social media platform turn over all internal communications related to owner Elon Musk, according to documents viewed by the Wall Street Journal.

In a dozen letters to Twitter and its lawyers since Musk's $44 billion purchase of the business last October, the consumer protection watchdog asked the firm to hand over the information due to concerns over how a series of recent layoffs may impact users' data, the WSJ reported.

The letters demanded that Twitter also "identify all journalists" that were given access to the firm's records and hand over any details about the launch of the Twitter Blue subscription service.

The FTC is seeking to depose Musk as well in connection with its investigation, according to the WSJ and Bloomberg News.

The WSJ noted that the letters seem to indicate that Twitter has responded to the FTC's concerns, but the agency still flagged "serious" worries around its compliance as recently as late January.

A spokesperson for the FTC told the paper that it is conducting a "rigorous investigation" into Twitter's compliance with a consent order that came into effect before Musk bought the company.

Twitter did not respond to a request for comment, the WSJ said.

The letters stem from the Republican-led House Judiciary Committee, which released excerpts of them on Tuesday as part of a staff report on the FTC probe into Twitter.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.