Judge Orders Elon Musk to Testify Again in SEC Investigation of Twitter Deal

A federal judge has ruled that Elon Musk must sit for a second deposition in the U.S. Securities and Exchange Commission’s investigation into his $44 billion acquisition of Twitter. The decision, issued Saturday by U.S. Magistrate Judge Laurel Beeler, grants the SEC’s request to compel Musk to testify after he failed to appear for a scheduled deposition in September.

The SEC is examining whether Musk violated federal securities laws during his 2022 purchase of Twitter, now renamed X. The agency specifically wants to determine if Musk’s statements and disclosures about his share purchases and intentions for the company were accurate and timely. Its investigation includes questions about Musk’s initial stake in Twitter and a series of since-deleted tweets.

The Tesla and SpaceX CEO had previously agreed to sit for a deposition in San Francisco on September 15 but did not appear. According to court filings, Musk later told the agency he would no longer cooperate with the closed-door testimony.

Musk’s legal team argued that the SEC’s request was unwarranted, claiming that he had already been deposed for two half-day sessions in 2022. They also said the subpoena was not properly served and that the agency’s ongoing investigation had become excessive. Musk has publicly criticized the SEC in the past, calling its investigations harassment.

Judge Beeler rejected those arguments, writing in her order that the SEC’s subpoena was valid and enforceable. She found that the agency had a legitimate purpose in seeking a follow-up interview to question Musk about new documents it had obtained. She did not find evidence that the SEC had acted in bad faith.

The judge instructed both sides to coordinate a mutually agreeable date and location for the deposition within one week. If they cannot reach an agreement, the judge said she would set a date herself.

The case is part of a broader regulatory scrutiny Musk has faced since acquiring Twitter. His rapid changes at the company, including decisions around content moderation, management turnover, and subscription services, have drawn attention from lawmakers and federal investigators. The SEC’s investigation is civil, not criminal, but could result in fines or other enforcement actions if violations are found.

Musk completed the acquisition of Twitter in October 2022 after a months-long legal battle with the company’s former board. Since then, he has rebranded the platform as X and implemented a series of changes aimed at reshaping its business model into what he calls an “everything app.”

The SEC has not announced how much longer its investigation will continue or what specific penalties, if any, it may seek. Musk and his legal team have not indicated whether they plan to challenge the court’s order further.