A federal judge in San Francisco on Thursday questioned Tesla\’s argument that Musk should not spend more time being investigated by the U.S. Securities and Exchange Commission (SEC) because he has already spent two days in previous rounds of questioning. time.
U.S. District Judge Jacqueline Scott Corley told Musk\’s lawyer at a hearing that day: So, you mean Mr. Musk, because he is a very important, busy person person. So the SEC can’t investigate him? He has frequently accused the SEC of overreach since he struck a deal with the SEC in 2018 to have an in-house lawyer pre-clear his social media posts about Tesla.
In April this year, the U.S. Supreme Court refused to hear Musk’s challenge to Twitter’s nanny agreement.
The SEC is seeking information about Musk\’s purchases of Twitter stock and statements he made about his investment before his $44 billion acquisition of the social media platform, which he has renamed X.
Musk previously participated in two days of testimony in July 2022. Judge Corley said that she believed this was just one testimony spread over two days.
Musk\’s attorney, Rachel Frank, defended Musk\’s stance, saying he had given the SEC enough time, pointing to the long and fraught history between Musk and the SEC.
But Judge Colley said it was common in an investigation to hear testimony early in the investigation and then again after all the documents for the planned inquiry had been received.
Corley said: What you\’re saying is that the SEC can\’t do any discovery until it has collected all the documents.
The judge also accused Musk of playing tricks because he only notified the SEC two days in advance that he would not testify on the third day of September. He had said he would cooperate for the previous four months.
Musk hopes to stop SEC investigation, US judge accuses him of playing tricks
A federal judge in San Francisco on Thursday questioned Tesla\’s argument that Musk should not spend more time being investigated by the U.S. Securities and Exchange Commission (SEC) because he already spent two days in previous rounds of questioning. time
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