SAN FRANCISCO, May 14 (Reuters) – A federal court ordered on Tuesday that Elon Musk must testify again in the U.S. Securities and Exchange Commission’s investigation into his $44 billion takeover of Twitter.
The SEC sued Musk in October to compel the CEO of electric carmaker Tesla (TSLA.O), opens new tab and rocket company SpaceX to testify after he refused to attend a September interview for the investigation. The billionaire said the SEC was trying to “harass” him with a number of subpoenas.
The investigation concerns whether Musk broke federal securities laws in 2022 when he bought stock in Twitter, which he later renamed X. It is also reviewing statements and SEC filings he made in relation to the deal, the agency has previously said.
U.S. Magistrate Judge Laurel Beeler in February ruled in favor of the agency to compel the deposition and Musk requested a review of the decision.
“As Judge Beeler explained, the investigations Musk contends constitute harassment are ‘legitimate government investigations’,” U.S. District Judge Jacqueline Scott Corley said on Tuesday.
“Musk has not met his burden of demonstrating the subpoena is unreasonable.”
This marks the latest dispute in a years-long feud between Musk and the top U.S. markets regulator, dating back to 2018 when he tweeted that he had “funding secured” to take Tesla private.
In 2022, Musk supplied the SEC with documents for its probe and also testified via videoconference for two half-day sessions in July of that year, the SEC has said in court documents. Agency lawyers have said they have more questions for Musk after receiving new documents, and had sought additional testimony.
Danielle Green is a former Notre Dame women’s basketball player who made a significant impact both on and off the court. After her college career, she joined the…
Just one bonus like Tesla CEO Elon Musk, an ordinary person can be in the top 30 richest people in the world. The American billionaire has no shortage…
Dana Elaine Owens (𝐛𝐨𝐫𝐧 March 18, 1970), known professionally as Queen Latifah, is an American rapper, singer, songwriter, actress, and producer. Owens was 𝐛𝐨𝐫𝐧 in Newark, New Jersey….
A worker at Tesla’s Austin factory has died of cardiac arrest, prompting an investigation into working conditions there. The death has raised questions about safety at Tesla facilities….
As it stands, Tesla’s Cybertruck comes in one color and one color only – raw stainless steel. As of now, it looks like the model is following in the footsteps of…