Elon Musk can seek district judge review in SEC subpoena case

Text Size

• Small
• Medium
• Large

NEW YORK: According to a court notice filed on Friday,

Tesla CEO

Elon Musk has the option to petition a US district court to review a magistrate judge’s ruling mandating his testimony in the securities and exchange commission’s probe into his $44 billion acquisition of Twitter.
The SEC is investigating whether Musk adhered to legal protocols while submitting the necessary documentation regarding his Twitter stock acquisitions, and whether his remarks concerning the transaction were deceptive.

Attorneys representing Musk stated in a court document filed on Thursday, their intention to request a review of the order issued by US magistrate judge Laurel Beeler, which compelled Musk to provide testimony.
Musk has opposed the SEC’s attempt to interview him, asserting that he has already done so twice and alleging harassment by the regulator.
The order formalised her preliminary decision from December, in which she supported the SEC’s stance.
(With inputs from agencies)