🧐 ProPicks AI October update is out now! See which stocks made the listPick Stocks with AI

US House panel subpoenas FTC for Twitter probe documents

Published 04/12/2023, 01:03 PM
Updated 04/12/2023, 02:27 PM
© Reuters. FILE PHOTO: Elon Musk's photo is seen through a Twitter logo in this illustration taken October 28, 2022. REUTERS/Dado Ruvic/Illustration

By Diane Bartz

WASHINGTON (Reuters) -The Republican-led U.S. House of Representatives Judiciary Committee has subpoenaed the Federal Trade Commission's chair for documents related to the regulatory agency's privacy probe of Twitter, the panel said on Wednesday.

In a statement, the committee said its Chairman Jim Jordan and others had asked FTC Chair Lina Khan for information about the probe following billionaire Elon Musk's $44 billion purchase of the social media company in October, but did not get an adequate response.

"Your voluntary compliance has been woefully insufficient. Accordingly, the Committee is issuing a subpoena to compel the production of documents necessary to inform our oversight," Jordan said in a letter to Khan which accompanied the subpoena.

The subpoena is unnecessary, FTC spokesman Douglas Farrar said in a statement. "We have made multiple offers to brief Chairman Jordan's staff on our investigation into Twitter. Those are standing offers made prior to this entirely unnecessary subpoena."

The committee said in a March report that the FTC was harassing Twitter since it was acquired by Musk, and its statement said it was looking into allegations that the FTC "abused" its authority.

The subpoena is the latest Republican effort to check the power of the FTC, an agency that has been reinvigorated by the Biden administration and is probing pharmacy benefit managers to companies that tie employees down with non-compete contracts.

© Reuters. FILE PHOTO: Elon Musk's photo is seen through a Twitter logo in this illustration taken October 28, 2022. REUTERS/Dado Ruvic/Illustration

The agency has been concerned whether Twitter had the staffing to abide by a May 2022 settlement with the U.S. regulator in which it agreed to improve its privacy practices and place responsibility on people who held relevant positions.

Layoffs by Musk of some 3,700 people at Twitter had sparked concerns that the social media company may fail to abide by the settlement.

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.