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U.S. judge asks Elon Musk to testify in SEC probe into his acquisition of Twitter
2024-02-12 07:24
Odaily News: A U.S. judge asked Elon Musk to testify in a court filing on Saturday related to the investigation into his 2022 acquisition of Twitter. The U.S. SEC is investigating whether Musk or others committed securities fraud in 2022 when he purchased shares ahead of his acquisition of the social media company. Elon Musk completed the acquisition of Twitter in October 2022 for approximately $44 billion and has since rebranded it as X. In a February 10, 2024 order, federal judge Laurel Beeler wrote that while Elon Musk and his legal team believe the SECs subpoena in the matter constitutes harassment of Musk, the federal financial regulators request is not Within the scope of their powers, their subpoenas were clear and seek relevant information for the investigation. Federal financial regulators and Elon Musk now have a week to set a date and location for his testimony. Elon Musk, his lawyers, and the SEC did not immediately respond to requests for comment. (CNBC)