Vice Media announces hundreds of layoffs
A judge has ordered Elon Musk to give testimony in a federal investigation over his purchase of Twitter in 2022.
The US Securities and Exchange Commission is looking into whether Musk and others committed securities fraud in 2022.
During that time, Musk began acquiring Twitter stock and building a stake ahead of his buyout.
Musk acquired Twitter in a deal valued at approximately $44 billion in October 2022, renaming it X.
Federal Magistrate Judge Laurel Beeler issued the order on February 10, 2024.
The order follows Musk and his legal team's argument that the SEC's subpoena constituted harassment.
Judge Beeler, however, ruled the SEC was acting within its legal rights.
She said the subpoena sought relevant information for the ongoing investigation.
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