US Court Enforces SEC Subpoena For Elon Musk To Testify
A US Courtroom is imposing an SEC subpoena that may drive Elon Musk to testify in courtroom once more of their investigation of his Twitter Takeover. A Tuesday courtroom submitting revealed that the SEC will proceed questioning Musk in courtroom 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. Earlier than the lawsuit, Musk refused to sit down down for an interview for the investigation in September. Musk claimed the SEC was making an attempt to “harass” him with plenty of subpoenas. To counter the argument, the SEC responded that they had been, actually, working inside its bounds and was, actually, granted authority by regulation to hunt testimony and paperwork because it continued its investigation.
The SEC is investigating whether or not Elon Musk broke federal securities legal guidelines in 2022 when he purchased inventory in Twitter, which he later renamed X.
In the meantime, Elon Musk is constant his work on X to make the platform the subsequent “every part app.” In April, X introduced that it had acquired a cash transmitter license in 25 states. These licensees are vital for Musk’s imaginative and prescient of the platform.
Elon Musk has but to touch upon the newest subpoena.