**: Global Market Broadcast.
A U.S. judge ordered in a court filing Saturday that Elon Musk, the CEO of Tesla and SpaceX, must testify before the U.S. Securities and Exchange Commission (SEC) into his deal to acquire Twitter in 2022.
The SEC is investigating whether Musk or anyone else was bullied in 2022 because the billionaire started buying Twitter in large quantities before he leveraged the takeover of the social company, thereby building a position.
Musk completed the acquisition of Twitter in October 2022 in a deal worth about $44 billion, and has since renamed it X.
In a court order dated February 10, 2024, federal District Judge Laurel Beeler said that while Musk and his legal team believe the SEC's subpoena on the matter amounts to harassment of the billionaire, the federal financial regulator's request is "within its purview" and that their subpoena is seeking "definite, material information" for their investigation.
The SEC and Musk now have a week to determine the date and location of Musk's testimony.
Neither Musk, his lawyer, Alex Spiro, nor the SEC immediately responded to requests for comment.