Court docket orders Elon Musk to testify within 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 Trade Fee’s (SEC) subpoena and testify once more in its probe of his Twitter takeover, Reuters studies. Per the order, which was filed Saturday night time in a California courtroom, Musk and the SEC now have every week to work out a time and place for his look or it will likely be determined for them. The SEC has been investigating Musk’s purchase of Twitter, now X, since 2022 over issues about his lateness in disclosing his stake in Twitter.

The order comes after Musk failed to seem for a sworn statement 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 in search of 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 employees member appointed by the SEC’s Director of Enforcement. Beeler struck these arguments down, ruling that the subpoena is legitimate.