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.
Jeff Bezos, the renowned media mogul and founder of Amazon, has once again made headlines with his extravagant purchаse. At 60 years old, Bezos recently acquired the second…
Elon Musk, the enigmatic visionary and billionaire entrepreneur, has made headlines yet again, this time for a personal matter. At 52 years old, Musk found himself entangled in…
Tesla CEO Elon Musk confirmed a number of key details about the Robotaxi during the company’s Q2 2024 Update Letter and earnings call. These include the site of…
Facebook CEO Mark Zuckerberg expressed his ‘deep disappointment’ at the destruction of his revolutionary $200million satellite on Thursday when the SpaceX Falcon 9 owned by Elon Musk’s company…
Months after one of Elon Musk’s teenage 𝘤𝘩𝘪𝘭𝘥ren made the legal decision to disown him, the family of the world’s richest man took to Twitter on Father’s Day…
As archenemies, Elon Musk is showing signs of losing steam in front of Mark Zuckerberg BI newspaper commented that Threads – Meta’s newly launched application is still winning…