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The Supreme Court has rejected Elon Musk's appeal in the 'Twitter sitter' case, upholding his agreement with the SEC to have an in-house lawyer pre-approve his social media posts about Tesla. This decision stems from a settlement with securities regulators after Musk's misleading tweet in 2018 about taking Tesla private.
The US Supreme Court on April 29 turned away Elon Musk's appeal of a lower court's decision upholding a 2018 settlement with the SEC, reached after he said on social media that he had 'funding secured' to take Tesla private https://t.co/EB6kDvd3gb https://t.co/alwdpszW0Z
Musk's securities fraud charge re Aug2018 tweets: "Considering taking Tesla private at $420. Funding secured", "Investor support is confirmed." SEC said misleading b/c "Musk had not even discussed…key deal terms" nor "satisfied numerous… contingencies."' https://t.co/hH9fWdc4MR
Musk’s efforts to nullify a settlement with the SEC that requires him to get a lawyer’s preapproval for some posts related to Tesla has been rejected by the U.S. Supreme Court https://t.co/FJMAemuCUk