The SEC sued Musk after he refused to testify about the delay in disclosing that he’d acquired a substantial share of Twitter.
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Elon Musk has agreed to testify in the Securities and Exchange Commission’s investigation into his $44 billion acquisition of Twitter. A legal document filed on Thursday shows that Musk waived his right to appeal a court order that requires him to testify.
This means Musk will have to appear at one of the SEC’s offices for an up to five-hour interview. The document says Musk and the SEC have already agreed to a date, but it’s not disclosed “for confidentiality purposes.”
In 2022, the SEC opened an investigation into Musk’s failure to properly disclose his stake in Twitter. But the SEC filed a lawsuit against Musk last October after he refused to testify in the agency’s probe. The SEC claims Musk “abruptly notified the SEC staff that he would not appear” two days before his scheduled deposition and refused to testify at a later date. Earlier this year, the SEC accused Musk of trying to delay the investigation.
Musk has butted heads with the SEC several times in the past, accusing the agency of “unrelenting” harassment and of stifling his free speech.
