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During a hearing in San Francisco, U.S. Magistrate Judge Laurel Beeler quickly rejected arguments by Musk's attorney that SEC officials do not have the authority to issue subpoenas, saying the agency has broad investigative powers and that no judge would "second guess" an SEC probe.
Twitter Probe: During a hearing in San Francisco, U.S. Magistrate Judge Laurel Beeler quickly rejected arguments by Musk's attorney that SEC officials do not have the authority to issue subpoenas, saying the agency has broad investigative powers and that no judge would "second guess" an SEC probe.
In a document filed in federal court in San Francisco on Thursday, the SEC defended its efforts to compel Musk's testimony, saying agency officials are acting within their authority.
Musk filed the objections in San Francisco federal court, where the SEC sued him on Oct. 5 to make him testify for the probe, which it launched in April 2022. The SEC's subpoena exceeds the agency's investigative authority, is overly burdensome and seeks "irrelevant evidence", Musk's lawyers said in the filing.