Judge orders Musk to testify in SEC probe of Twitter acquisition

A federal choose has ordered X proprietor Elon Musk to testify once more earlier than the Securities and Exchange Commission as a part of its investigation into the billionaire’s acquisition of Twitter.  

On Thursday, Judge Laurel Beeler of the Northern District of California didn’t challenge a selected date for the testimony to happen, leaving each events to determine it out for themselves. However, she did emphasize that if no resolution could possibly be reached, his testimony would happen in San Francisco in February. 

Mr. Musk’s attorneys initially tried to get him out of any additional questioning by the SEC by claiming that the company didn’t have the authority to challenge subpoenas, which Judge Beeler rejected. They additionally tried to categorize the SEC’s investigation as “harassment” and get it dismissed, which Judge Beeler didn’t purchase.

“You’ve got one more four-hour deposition, one more day of depositions to survive and it’s over,” she mentioned Thursday. “It seems unlikely there’s going to be any more hassle.”

The resolution is the newest in a years-long authorized battle between the world’s richest man and the SEC. 

The SEC opened a probe into Mr. Musk in April 2022 after he started posting about buying Twitter. He cooperated with the company and even testified through video name in July. However, the SEC was not happy with Mr. Musk’s solutions and requested him to testify once more in September, a request he refused.

The SEC adopted with a lawsuit in October towards the billionaire to get him to reply their questions referring to his buying of Twitter, which he has since renamed X.