TechFlow reported, according to Reuters, that in a filing submitted to a federal court in San Francisco, the U.S. Securities and Exchange Commission (SEC) urged a federal judge to require Elon Musk to testify regarding its investigation into his $44 billion acquisition of the social media giant Twitter, now known as X.
Last month, the SEC said it was investigating Musk’s 2022 purchases of Twitter stock (which he later renamed X), as well as acquisition disclosures and filings submitted to the SEC. The SEC stated that Musk refused to participate in an investigative interview in September. On November 2, Musk and his lawyers asked the judge to dismiss the SEC's motion to compel his testimony, arguing that Musk had already testified twice and that the agency has exceeded its authority. However, the SEC rejected these claims, saying its officials do have legal authority to seek testimony and documents when conducting investigations.
