Elon Musk appeals SEC agreement over his Tweets
Musk will look to appeal a recent ruling over his 2018 agreement with the SEC.
It’s no secret that Elon Musk’s Twitter account can be quite the roller coaster, whether he’s stealing memes from gaming new parody websites or providing his two cents on the biggest social controversies, it’s a key branch of his brand. Earlier this year, a judge ruled to sustain Musk’s 2018 agreement with the SEC, which required a lawyer to vet the billionaire’s tweets. Now, Elon Musk will look to appeal this decision.
It was in 2018 that Elon Musk made an agreement with the United States Securities and Exchange Commision that he would have a Tesla lawyer vet his tweets before posting them. This came after Musk tweeted about having enough funding to take Tesla private, despite the deal not yet being officially closed. An SEC lawsuit alleged that this tweet defrauded investors and led to the agreement over Musk’s tweets. The CEO was also fined $20 million for the incident.
In April of this year, U.S. District Judge Lewis Liman ruled to continue the agreement. Now, Musk will ask the 2nd U.S. Circuit Court of Appeals to overturn this decision, as we learned through Reuters. Musk has criticized the decree over his Tweets as violating his free speech rights, a recurring theme on his Twitter account.
Moving away from his ongoing issues with the SEC, Elon Musk’s relationship with Twitter has been quite the story this year. Easily one of the platform’s most polarizing users, Elon Musk submitted an offer to acquire Twitter earlier this year. After accepting the $44 billion deal, Musk threatened to pull out if the company failed to present concrete data on its bot and spam accounts. Per the latest update, Twitter will comply with that request.
We’ll be keeping a close eye on the situation and will be short to report an update when a ruling is made on Elon Musk’s SEC agreement appeal.
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