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 concern a particular date for the testimony to happen, leaving each events to determine it out for themselves. However, she did emphasize that if no determination could possibly be reached, his testimony would happen in San Francisco in February.
Mr. Musk‘s lawyers initially tried to get him out of any further questioning by the SEC by claiming that the agency did not have the authority to issue subpoenas, which Judge Beeler rejected. They also attempted to categorize the SEC‘s investigation as “harassment” and get it dismissed, which Judge Beeler did not buy.
“You’ve bought yet one more four-hour deposition, yet one more day of depositions to outlive and it’s over,” she mentioned Thursday. “It seems unlikely there’s going to be any more hassle.”
The determination 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 glad 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.
The SEC has indicated it’s principally within the lead-up to Mr. Musk buying the corporate and whether or not he adopted the proper authorized procedures and paperwork. They are additionally doubtless concerned about how Mr. Musk financed the acquisition and if statements he made about it are in any respect deceptive.
