Court docket orders Elon Musk to testify within the SEC’s investigation of his Twitter takeover

Cheyenne MacDonald

In a followup to a tentative ruling made in December, a federal deem has ordered Elon Musk to comply with the U.S. Securities and Alternate Commission’s (SEC) subpoena and testify all over again in its probe of his Twitter takeover, Reuters experiences. Per the portray, which became once filed Saturday night in a California court docket, Musk and the SEC now be pleased per week to figure out a time and dilemma for his appearance or this would perhaps perhaps well be determined for them. The SEC has been investigating Musk’s dangle shut of Twitter, now X, since 2022 over concerns about his lateness in disclosing his stake in Twitter.

The portray comes after Musk did no longer look for an affidavit in September and later refused to attend a rescheduled interview, prompting the SEC to sue. US Justice of the Peace Retract Laurel Beeler sided with the SEC after Musk tried to design back its subpoena, which he claims is searching for irrelevant recordsdata and is harassment, as he’s already been interviewed twice. But, the SEC says it has purchased unique paperwork in relation to the probe and has additional questions for the X proprietor. Musk additionally argued that the subpoena exceeds the SEC’s authority because it became once issued by a team member appointed by the SEC’s Director of Enforcement. Beeler struck these arguments down, ruling that the subpoena is actual.

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