Federal court demands Musk give testimony
Feb 13, 2024
Washington [US], February 13: A federal judge has demanded that Elon Musk give testimony in an official investigation into his acquisition of the social media platform Twitter.
The judge ordered the Tesla Inc and SpaceX chief executive to testify in a probe by the US Securities and Exchange Commission (SEC) regarding his 2022 acquisition of Twitter, now re-branded as X.
The federal regulator is probing whether Musk or anyone else, committed securities fraud in 2022 as he purchased Twitter stock ahead of his buyout of the firm. The order comes after the SEC sued Musk for failing to appear for a testimony in September, and refused later to attend a rescheduled interview.
A federal judge in December had ordered Musk to comply with the SEC subpoena and testify again in its probe of his Twitter takeover. Musk and his legal team reportedly had called the SEC's investigation baseless and that it seeks irrelevant information.
Source: Qatar Tribune
