Lawmakers have given plaintiffs the OK to serve subpoenas to Banks and Grimes, according to documents issued on Tuesday, January 15, and obtained by Business Insider.
Tesla investors want to summon the singer and the DJ to testify in the case and preserve documents, such as Twitter and Instagram messages, for potential evidence.
The investors' lawyer, Adam M. Apton, is now planning to serve subpoenas to Banks, Grimes and others, who responded or reacted to the Tesla co-founder and CEO's infamous August 2018 tweet, in which he wrote he was "considering taking Tesla private at $420. Funding secured."
Am considering taking Tesla private at $420. Funding secured.— Elon Musk (@elonmusk) 7 August 2018
Musk's attorneys insist the tweet was an in-joke between the businessman and his then-girlfriend Grimes, real name Clare Boucher, but Securities and Exchange Commission officials argued that it amounted to fraud based on "a series of false and misleading tweets about a potential transaction to take Tesla private."
The investors are suing Tesla and Musk, claiming the tweet negatively affected people who purchased stock in the company.
Banks has been dragged into the case because she was residing at Musk's Los Angeles home at the time.