Magistrate Judge Laurel Beeler issued the order, giving Musk, his team, and the SEC a week to agree on the date and location for the testimony.

The order follows a court hearing held in December, during which Judge Beeler stated that she would issue an order if a mutual agreement regarding Musk's testimony could not be reached. In her order, Judge Beeler noted that the parties initially agreed on a date, but Musk did not appear and resisted the subpoena, contending that the SEC's investigation was baseless and harassing, seeking irrelevant information. He also argued that the SEC's subpoena exceeded its authority as it was not issued by an officer appointed by the President, a court, or the head of a department, as required by the U.S. Constitution.

However, Judge Beeler emphasized that the court is enforcing the SEC's subpoena, stating that the testimony is not unduly burdensome for Musk. The SEC had provided Musk with the option to testify in Texas, where he resides.

The SEC has been conducting a fact-finding investigation into the events leading up to Musk's takeover of Twitter, which was still publicly traded at the time. The agency clarified that it has not concluded whether any federal securities laws were violated during the process.

Musk has already testified twice in the case, but the SEC has reportedly received thousands of new documents, including hundreds from Musk himself, since the previous testimonies.

The $44 billion agreement for Musk to acquire Twitter and take it private was finalized in October 2022 after a lengthy legal battle with the social media company's former leadership. The initial deal was signed in April 2022, but Musk attempted to back out of it, resulting in Twitter suing him to enforce the acquisition.

As of now, neither the SEC nor Musk's lawyer has responded to requests for comment on the ongoing proceedings. The date and location for Musk's third testimony are yet to be determined as the SEC investigation continues.