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Elon Musk can't wriggle out of SEC Twitter fraud inquiry

A federal judge has ruled in favor of the Securities and Exchange Commission (SEC), ordering tech mogul Elon Musk to return for additional testimony in their investigation of his 2022 Twitter acquisition.

Musk, who previously testified twice in the matter, had refused to answer further questions, calling the SEC's requests unreasonable and harrassing. However, Judge Laurel Beeler of the Northern District of California disagreed [PDF], stating that the evidence sought is relevant and the testimony is not an undue burden.

This latest development follows the SEC's receipt of "thousands of new documents" after Musk's initial appearances. The agency aims to question him about this new information and clarify potential discrepancies between his previous statements and actions leading up to the buy of Twitter (now known as X).

The SEC is investigating whether Musk committed civil fraud by not disclosing his plans for Twitter when he bought shares ...

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