Elon musk, the CEO of Tesla and SpaceX, has announced that he and Twitter CEO Jack Dorsey will be appearing for a second round of questioning by the SEC about their proposed buyout deal. In June, Musk was questioned for five hours by the SEC regarding his plan to take Tesla private. The SEC is investigating whether Musk's statements that he had secured funding for taking Tesla private were truthful.

On July 3, 2018 Musk and Dorsey were scheduled to appear again as part of a two-day conference call with the SEC. On July 14, 2018 Musk and Dorsey rescheduled their questioning for September 28, 2018. A week later on August 1, 2018, Musk canceled his appearance citing 'unexpected' travel commitments.

Musk and Y Combinator President Sam Altman are the two most high-profile people involved in the acquisition of one of Musk’s companies, SolarCity. They were questioned about the transaction by the SEC on Thursday. The SEC will now decide whether or not to raise concerns about how the deal was structured and how Musk’s tweets about taking Tesla private affected his decision-making.

The hearing was held at a San Francisco federal court, which is where the SEC’s enforcement division is headquartered. If a judge rules that there was wrongdoing, she could order Musk and Altman to pay back to shareholders some or all of the $1.8 billion that they received from SolarCity’s sale to Tesla.

The SEC has made it clear that it views Musk as more important than Altman because he is CEO of both companies. In its opening statement, the SEC said it was alarmed that Musk had announced his intention to take Tesla private “without following typical procedures for getting shareholder approval first.”