Elon Musk is gearing up to request a court review of a controversial order that mandates him to testify regarding the Securities and Exchange Commission’s scrutiny of his $44 billion purchase of Twitter, now rebranded as X.

Recent Actions: Musk is reported to be planning to challenge the order from a district court, as per a document filed on Thursday, as revealed by Reuters.

The order, issued by U.S. Magistrate Judge Laurel Beeler on Saturday night, requires Musk to testify afresh in the SEC’s inquiry into his acquisition of the social media platform.

In a recent filing, Musk’s legal team contested the judge’s order and called on the court to clarify that her ruling was only a recommendation and not binding.

Why It’s Significant: This latest development is a continuation of the long-standing legal tussle between Musk and the SEC. The SEC initiated a legal action against Musk in October, seeking his testimony on his Twitter stock purchases and the subsequent transformation of the platform into X.

Musk’s refusal to participate in an interview in September prompted the SEC to take legal action. In response, Musk called for a sweeping overhaul of the regulatory agencies.

The conflict dates back to when Musk tweeted about securing funding to take Tesla private at a $420 price, a tweet that is now the subject of a lawsuit aimed at establishing the veracity of Musk’s claims.

Photo by Frederic Legrand – COMEO on Shutterstock

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