Elon Musk Faces SEC Probe Over Twitter Takeover

Elon Musk Ordered to Testify in SEC Investigation

Elon Musk, the CEO of Tesla and SpaceX, has been ordered to testify in a U.S. Securities and Exchange Commission (SEC) investigation regarding his acquisition of Twitter in 2022. The SEC is looking into potential securities fraud surrounding Musk's stock purchases and the subsequent buyout of the social media platform.

Despite Musk's objections, a federal judge ruled in favor of the SEC's subpoena, stating that it is within the agency's authority and seeks relevant information for the investigation. Both Musk and the SEC have one week to arrange the details for Musk's testimony.

Legal Battles and Implications

This development comes as Musk has been involved in other legal battles, including a dispute with the SEC over a previous settlement and a lawsuit filed by SpaceX against the National Labor Relations Board. The outcome of the SEC probe could have significant implications for Musk and his businesses.