In February, Federal Judge Laurel Beeler ruled in favor of the SEC’s subpoena to Elon Musk, stating that it was legitimate and sought relevant information for the investigation. However, Musk did not comply with the subpoena and instead accused the SEC of harassment with numerous requests for information.
The investigation is looking into whether Musk violated securities laws when he bought shares of Twitter in 2022 and made related statements and filings with the SEC. On Tuesday, District Judge Jacqueline Scott Corley affirmed that the investigations by the SEC were legitimate government actions.
As a result of this ruling, Elon Musk will be required to testify before the SEC once again as the investigation continues. The court has emphasized the legitimacy of the government’s inquiries and denied Musk’s claims of harassment. The case highlights the importance of complying with government investigations and respecting their authority in order to avoid legal consequences.
