In a followup to a tentative ruling made in December, a federal judge has ordered Elon Musk to comply with the U.S. Securities and Exchange Commission’s (SEC) subpoena and testify again in its probe of his Twitter takeover, Reuters reports. Per the order, which was filed Saturday night in a California court, Musk and the SEC now have a week to work out a time and place for his appearance or it will be decided for them. The SEC has been investigating Musk’s purchase of Twitter, now X, since 2022 over concerns about his lateness in disclosing his stake in Twitter.

The order comes after Musk failed to appear for a testimony in September and later refused to attend a rescheduled interview, prompting the SEC to sue. US Magistrate Judge Laurel Beeler sided with the SEC after Musk tried to challenge its subpoena, which he claims is seeking irrelevant information and is harassment, as he’s already been interviewed twice. But, the SEC says it has obtained new documents in relation to the probe and has further questions for the X owner. Musk also argued that the subpoena exceeds the SEC’s authority because it was issued by a staff member appointed by the SEC’s Director of Enforcement. Beeler struck these arguments down, ruling that the subpoena is valid.


Cheyenne MacDonald

Source link

You May Also Like

Zapp announces production of i300 electric motorbike – Tech Digest

Share British electric mobility brand Zapp has announced it is to start…

How to Install DevOps Tools on a Windows PC

Do you need help preparing a Windows PC for DevOps tasks by…

New Silent Beacon App Provides Advanced Personal Safety Solutions

The New Silent Beacon Personal Safety App Acts as Your Digital Bodyguard…

The Morning After: Want some hybrid meat rice?

If the image itself isn’t unappetizing enough, the description might put you…