Elon Musk ordered to testify again in US SEC probe of Twitter takeover

SAN FRANCISCO :A federal court docket ordered on Tuesday that Elon Musk must testify some other time within the U.S. Securities and Swap Charge’s investigation into his $44 billion takeover of Twitter.

The SEC sued Musk in October to compel the CEO of electric carmaker Tesla and rocket firm SpaceX to testify after he refused to wait on a September interview for the investigation. The billionaire mentioned the SEC turned into once trying to “harass” him with a assortment of subpoenas.

The investigation considerations whether or no longer Musk broke federal securities licensed pointers in 2022 when he equipped stock in Twitter, which he later renamed X. It’s additionally reviewing statements and SEC filings he made as regards to the deal, the company has beforehand mentioned.

U.S. Justice of the Peace Establish Laurel Beeler in February ruled in favor of the company to compel the deposition and Musk requested a overview of the determination.

“As Establish Beeler defined, the investigations Musk contends dispute harassment are ‘authentic authorities investigations’,” U.S. District Establish Jacqueline Scott Corley mentioned on Tuesday.

“Musk has no longer met his burden of demonstrating the subpoena is unreasonable.”

This marks the most fresh dispute in a years-long feud between Musk and the tip U.S. markets regulator, courting wait on to 2018 when he tweeted that he had “funding secured” to take Tesla non-public.

In 2022, Musk equipped the SEC with documents for its probe and additionally testified by device of videoconference for 2 half-day classes in July of that 365 days, the SEC has mentioned in court docket documents. Agency lawyers agree with mentioned they’ve more questions for Musk after receiving original documents, and had sought extra testimony.

Musk turned into once no longer straight on hand for commentary.