Elon Musk is required to testify in the SEC's Twitter inquiry by a US court

Elon Musk is required to testify in the SEC's Twitter inquiry by a US court

In an attempt to compel the CEOs of Tesla and SpaceX to testify as part of its investigation into the 2022 Twitter acquisition, the SEC sued Elon Musk in October.

Elon Musk rejected the SEC's request for an interview, claiming he had previously been contacted twice, and charged the agency with harassment.

Elon Musk has been given a week to arrange a time and place for his retest in the U.S. Securities and Exchange Commission's inquiry into his $44 billion purchase of Twitter, after a federal judge's ruling. given the time.

U.S. Magistrate Judge Laurel Beeler's order, which was announced on Saturday night, cemented a provisional decision she had made in December that favored the regulator.

In an attempt to compel the CEOs of SpaceX and Tesla to testify as part of its investigation of the 2022 acquisition of Twitter—the social media behemoth that Musk subsequently called X—the SEC sued Musk in October. According to the SEC, Musk turned down an invitation to participate in an investigation-related interview in September.

The commission is looking into whether Musk complied with the law while submitting the necessary documentation for his acquisition of Twitter shares and if his claims about the transaction were false.

Musk said that he had previously been interviewed twice and rejected the SEC's request to speak with him, accusing the agency of harassing him.

Beeler brushed the argument aside. In the ruling, he said that the SEC was able to send out subpoenas to get pertinent data.

In the event that Musk and the SEC are unable to reach a consensus over the interview's date and time, Beeler promised to hear both parties out and decide for them.

When Musk tweeted "funding secured" in relation to a potential plan to take Tesla private in 2018, the SEC filed a lawsuit against him, sparking the schism between the two organizations. In order to resolve the matter, Musk consented to have his tweets regarding Tesla's legal department looked into. They were sued by the SEC one again in 2019 for allegedly breaking that clause.

Musk claims that the arrangement infringes on his constitutional right to free expression and has requested the US Supreme Court to examine it.