(San Francisco) A federal court has mandated that Elon Musk, CEO of Tesla and SpaceX, must provide additional testimony in the ongoing U.S. Securities and Exchange Commission (SEC) investigation regarding his acquisition of Twitter, now known as X Corp. The SEC’s inquiry focuses on potential violations of federal securities laws during Musk’s $44 billion purchase and subsequent actions in 2022.
Musk had previously avoided a scheduled interview in September, criticizing the SEC’s multiple subpoenas as harassment. However, U.S. District Judge Jacqueline Scott Corley affirmed that these are legitimate government investigations and denied Musk’s claim that the subpoena was unreasonable.
This legal action continues the tense relationship between Musk and the SEC, which began in 2018 following Musk’s tweet about having secured funding to privatize Tesla. Despite providing documents and earlier testimony in 2022, the SEC seeks further clarification from Musk following the examination of new documents.
