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US judge orders Elon Musk to testify in SEC's Twitter probe

Published 02/11/2024, 10:21 AM
Updated 02/12/2024, 10:37 AM
© Reuters. FILE PHOTO: Elon Musk, Chief Executive Officer of SpaceX and Tesla and owner of X, formerly known as Twitter,  attends the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition centre in Paris, France, June

By Jody Godoy

(Reuters) -A federal judge ordered Elon Musk to testify again in the U.S. Securities and Exchange Commission's probe of his $44 billion takeover of Twitter, giving the regulator and the billionaire a week to agree on a date and location for the interview.

U.S. Magistrate Judge Laurel Beeler's order, issued on Saturday night, formalized a tentative ruling she made in December that sided with the regulator.

The SEC sued Musk in October to compel the Tesla (NASDAQ:TSLA) and SpaceX CEO to testify as part of an investigation into his 2022 purchase of Twitter, the social media giant that he subsequently renamed X. Musk refused to attend an interview in September that was part of the probe, the SEC said.

The agency is examining whether Musk followed the law when filing the required paperwork about his purchases of Twitter stock, and whether his statements in relation to the deal were misleading.

Musk fought the SEC's bid to interview him, saying it had already done so twice, and accused the regulator of harassment.

Beeler rejected that argument. The SEC had authority to issue the subpoena, which sought relevant information, she said in the ruling.

If the SEC and Musk cannot agree on a date and time for the interview, Beeler said she will hear from both sides and decide for them.

Friction between Musk and the SEC began when the regulator sued him after he tweeted "funding secured" in 2018 in reference to a possible plan to take Tesla private. To settle that case, Musk agreed that a Tesla lawyer would vet his tweets about the electric vehicle maker. The SEC sued him again in 2019 for allegedly breaching that provision.

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Musk has asked the U.S. Supreme Court to review the agreement, saying it violates his constitutional right to free speech.

Latest comments

Political agenda only! This is insane. This is not worthy of a democracy
Elon has impulse control problems and he isn't as brilliant as everyone claims or he wouldn't be getting into trouble all the time with the authorities. because he's a billionaire he's not above the law.
The luckiest person in the history. LOL
It's a civil subpoena. SEC pouted in front of a leftist Federal Judge in the Bluest State, in the Bluest City in America; San Francisco. So now what? If he flips her off again, will she order a bench warrant? How will that look in  an election cycle year? One of the most brilliant minds in the world, handcuffed and brought before the almighty kangaroo court. And why? Because they needed Twitter to steal 2024 election. Posturing Maneuver, look out!
you do get land of laws - elon isn't stupid so he should understand the rules or have competent advice - he broke the laws and will have his day in court - why is it that so many fanboys are so willing to look the other way for crooks and cons
Elon didn’t break any laws.
 LOL! The left justice system is non existent for 'Leftist'. And when they've had enough? Well, just ask  Robert Hur what they do; right under the bus you go, and back over the head a couple extra times just to be sure! Just ask Bobo, although he probably doesn't remember.
More harassment of Musk by the Deep State, who are still mad that he purged Twitter of all their intelligence officers and censors.
IT'S A CONSPIRACY!!!
Tske your meds conspirator
i agree, Elon is revolting againdt woke and must be punished. buz problem is, what is alternstive. a republicans?
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