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Elon Musk asked to testify again in SEC probe of Twitter acquisition
2024-05-15 06:08:06
Odaily News A U.S. 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 acquisition of Twitter (now X). The U.S. Securities and Exchange Commission sued Musk in October last year and asked him to testify. Musk said at the time that the SEC was trying to "harass" him with a large number of subpoenas. The SEC previously said that its investigation focuses on whether Musk violated federal securities laws when he purchased Twitter shares in 2022. The SEC is also reviewing statements and SEC documents submitted by Musk regarding the transaction. In February of this year, U.S. Magistrate Judge Laurel Beeler ruled in favor of the SEC's compulsory subpoena of Musk to testify, and Musk requested a review of the decision. U.S. District Judge Jacqueline Scott Corley said on Tuesday: "As Judge Beeler explained, the investigation that Musk claimed constituted harassment was actually a 'reasonable government investigation'." (Reuters)