The federal court has issued a ruling that compels Elon Musk to testify again in the ongoing SEC investigation.
Musk initially refused the SEC interview, citing harassment via subpoenas.
Federal court orders Elon Musk to testify again in the Securities and Exchange Commissionâs (SEC) investigation into his $44 billion Twitter takeover. The court ruled in favor of the SECâs request after Musk refused to attend an initial interview in September 2023, claiming âharassment.âÂ
The investigation centers on whether Musk violated securities laws during the 2022 acquisition of Twitter, later renamed X, and scrutinizes his statements and filings related to the deal.Â
U.S. Magistrate Judge Laurel Beeler had previously sided with the SEC in February, compelling Musk to undergo deposition, a decision Musk subsequently sought to review. However, U.S. District Judge Jacqueline Scott Corley upheld Beelerâs ruling on Tuesday, stating that the investigations Musk claims are âharassmentâ are legitimate government inquiries and that Musk had failed to demonstrate that the subpoena was unreasonable.
This dispute adds to Muskâs ongoing clashes with the SEC since 2018, stemming from his tweet that âfunding securedâ about taking Tesla private.Â
Finally, despite Muskâs prior cooperation in supplying documents and testifying, the SEC seeks further clarification following new evidence, prompting the courtâs intervention.