In a significant development in the ongoing Twitter probe by the U.S. Securities and Exchange Commission (SEC), a federal judge has ordered Tesla CEO Elon Musk to testify. The decision comes amidst allegations that Musk violated a settlement agreement with the SEC by posting misleading statements on his Twitter account. This latest legal twist could have far-reaching implications for Musk and his role as the head of one of the world's most valuable companies.
The SEC initially investigated Musk’s Twitter activities in 2018 after he tweeted about taking Tesla private at $420 per share. The commission accused him of securities fraud, claiming that the tweet was misleading and exposed investors to potential harm. Eventually, Musk and Tesla settled the case, with Musk consenting to step down as chairman and Tesla agreeing to implement stronger oversight of his communications.
