A US Court is enforcing an SEC subpoena that will force Elon Musk to testify in court again in their investigation of his Twitter Takeover. A Tuesday court filing revealed that the SEC will continue questioning Musk in court following his $44 billion Twitter acquisition in 2022.
The SEC sued Musk in October 2023, hoping to get the Tesla and former X CEO to testify. Before the lawsuit, Musk refused to sit down for an interview for the investigation in September. Musk claimed the SEC was trying to “harass” him with a number of subpoenas. To counter the argument, the SEC responded that they were, in fact, working within its bounds and was, in fact, granted authority by law to seek testimony and documents as it continued its investigation.
The SEC is investigating whether Elon Musk broke federal securities laws in 2022 when he bought stock in Twitter, which he later renamed X.
Also Read: Carnival Cruise Line: 100% of Ships Equip Musk’s Starlink Internet
Meanwhile, Elon Musk is continuing his work on X to make the platform the next “everything app.” In April, X announced that it had received a money transmitter license in 25 states. These licensees are critical for Musk’s vision of the platform.
Elon Musk has yet to comment on the latest subpoena.
#Court #Enforces #SEC #Subpoena #Elon #Musk #Testify
#bitcoinnews
