The SEC rejected Musk’s objections, characterizing them as “spurious.” The agency asserted that it had made sincere efforts to negotiate alternative dates and locations for Musk’s testimony.
They claim the efforts included offering to hold the testimony at the SEC’s Fort Worth, Texas, office, which is geographically closer to Musk’s current residence, as well as proposing multiple dates in October and November 2023. Despite these overtures, Musk steadfastly refused to comply with the subpoena.
Musk Biography discounted
The SEC also dismissed Musk’s argument concerning his biography, asserting that it did not constitute a valid reason to evade compliance with a legally issued investigative subpoena.
The SEC clarified that its ongoing investigation remains in the fact-finding stage and has not yet reached any conclusions regarding whether any individuals or companies violated federal securities laws in connection with the Twitter acquisition.
A hearing on the matter has been scheduled for November 9, further intensifying the legal battle between Elon Musk and the SEC, as the world watches closely to see how this high-stakes investigation plays out.
