The United States Securities and Exchange Commission (SEC) filed a request in federal court in San Francisco to force Elon Musk to testify in his investigation into the $44 billion acquisition of social media giant Twitter, now renamed X.
The SEC defended its efforts to secure Musk’s presence, arguing that agency officials are acting within their scope of authority.
In a statement last month, The SEC revealed that it was investigating Musk’s stock purchases on Twitter in 2022, which he later renamed X, along with his statements and presentations related to the acquisition of the social network.
Furthermore, he reported that the magnate refused to attend to an interview in September as part of the investigation.
On November 2, Musk and his lawyers asked the judge to reject the SEC’s request to compel him to testify, arguing that He had already testified twice. and that the agency was exceeding its powers.
However, the SEC dismissed these allegations on Thursday, defending its legal authority to seek testimony and documents in the course of its investigation.
In addition, he noted that he has received new relevant documentation since the last interview.
This legal confrontation represents the latest episode in the tense relationship between the US market regulator and the richest person in the world.