New York: Elon Musk A judge on Wednesday appealed to the US Securities and Exchange Commission to refuse to terminate its 2018 settlement that required Tesla Inc.’s attorneys to review some of his posts on Twitter.
According to a court filing, Musk will ask the Second US Circuit Court of Appeals in Manhattan to overturn US District Judge Lewis Lyman’s April 27 decision, which allowed the settlement to stand.
The settlement stemmed from an SEC lawsuit that claimed Tesla’s chief executive deceived investors by tweeting on August 7, 2018 that he had “funding secure” to take the electric car company private, when in fact A buyout in I was not close.
Musk later accepted an SEC consent decree that required Tesla’s attorney to screen tweets that might contain material information about the company.
In seeking to nullify the consent decree and revoke part of the latter’s subpoena, Musk accused the SEC of using the decree to curtail his constitutional right to free speech and launch an “endless, unlimited investigation of his speech.” charged up.
Musk is trying to buy Twitter Inc. for $44 billion.
According to a court filing, Musk will ask the Second US Circuit Court of Appeals in Manhattan to overturn US District Judge Lewis Lyman’s April 27 decision, which allowed the settlement to stand.
The settlement stemmed from an SEC lawsuit that claimed Tesla’s chief executive deceived investors by tweeting on August 7, 2018 that he had “funding secure” to take the electric car company private, when in fact A buyout in I was not close.
Musk later accepted an SEC consent decree that required Tesla’s attorney to screen tweets that might contain material information about the company.
In seeking to nullify the consent decree and revoke part of the latter’s subpoena, Musk accused the SEC of using the decree to curtail his constitutional right to free speech and launch an “endless, unlimited investigation of his speech.” charged up.
Musk is trying to buy Twitter Inc. for $44 billion.