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

In a followup to a tentative ruling made in December, a federal choose has ordered Elon Musk to adjust to the U.S. Securities and Alternate Fee’s (SEC) subpoena and testify once more in its probe of his Twitter takeover, Reuters reviews. Per the order, which was filed Saturday night time in a California court docket, Musk and the SEC now have per week to work out a time and place for his look or will probably be determined for them. The SEC has been investigating Musk’s purchase of Twitter, now X, since 2022 over considerations about his lateness in disclosing his stake in Twitter.

The order comes after Musk failed to seem for an affidavit in September and later refused to attend a rescheduled interview, prompting the SEC to sue. US Justice of the Peace Choose Laurel Beeler sided with the SEC after Musk tried to problem its subpoena, which he claims is looking for irrelevant info and is harassment, as he’s already been interviewed twice. However, the SEC says it has obtained new 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 as a result of it was issued by a workers member appointed by the SEC’s Director of Enforcement. Beeler struck these arguments down, ruling that the subpoena is legitimate.