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https://nypost.com/2023/12/07/business/elon-musk-appeals-dispute-over-tesla-funding-secured-tweet-to-supreme-court/
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* 1818 Comments
ELON MUSK APPEALS DISPUTE OVER TESLA ‘FUNDING SECURED’ TWEET TO SUPREME COURT
By
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Published Dec. 7, 2023, 3:44 p.m. ET
Musk's Neuralink: First Patient Receives Brain Implant
MORE ON: ELON MUSK
* JUDGE ORDERS ELON MUSK TO TESTIFY IN SEC’S TWITTER PROBE
* ELON MUSK BOUGHT TWITTER AFTER THEN-CEO REFUSED TO BAN BILLIONAIRE’S JET
TRACKING ACCOUNT: BOOK
* HOW ELON MUSK QUICKLY DESTROYED THE TWITTER THAT JACK DORSEY BUILT
* ELON MUSK’S NEURALINK INCORPORATING IN NEVADA AFTER DELAWARE JUDGE AXES TESLA
PAY
Billionaire businessman Elon Musk on Thursday asked the US Supreme Court to
consider whether the Securities and Exchange Commission overstepped its
authority in enforcing a consent decree that he has called a “muzzle” on his
constitutional free speech rights, his lawyer said.
Musk asked the justices to hear his appeal of a lower court’s decision in May
that upheld the decree, which arose from his August 2018 post on the social
media platform then called Twitter, now called X, that he had “funding secured”
to take his electric car company Tesla private, his lawyer said.
A three-judge panel of the Manhattan-based 2nd US Circuit of Appeals rejected
Musk’s claim that the SEC, which accused him of defrauding investors, exploited
the decree to conduct harassing investigations into his use of Twitter.
Musk bought the social media platform last year and renamed it.
The consent decree was part of a settlement with the SEC under which Musk and
Tesla each paid $20 million fines, Musk gave up his role as Tesla’s chairman and
he agreed to let a Tesla lawyer approve some Twitter posts in advance.
The consent decree was part of a settlement with the SEC under which Elon Musk
and Tesla each paid $20 million fines, Musk gave up his role as Tesla’s chairman
and he agreed to let a Tesla lawyer approve some Twitter posts in advance. Getty
Images
In its ruling, the three-judge panel said Musk could not revisit the screening
of Twitter posts because he had “changed his mind.”
The 2nd Circuit in July denied Musk’s request to rehear the case.
Musk’s lawyers have said the SEC had no right to impose, as a condition of
settling, a “gag rule” that they contend violated the Constitution’s First
Amendment constraints on governmental limits on free speech.
Musk asked the Supreme Court justices to hear his appeal of a lower
court’s decision in May that upheld the decree. Getty Images
Separately, the New Orleans-based 5th US Circuit Court of Appeals has agreed
to reconsider its March decision that Musk violated federal labor law by posting
on Twitter in May 2018 that Tesla employees would lose stock options if they
joined a union.
18
What do you think? Post a comment.
The 5th Circuit is set to hear arguments in the case in January.
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* 1818 Comments
Filed under
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* 12/7/23
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