Categories: Automobile

Tesla CEO Elon Musk loses court bid to end ‘Twitter sitter’ deal with SEC

[ad_1]

Elon Musk lost a bid to undo his 2018 agreement with the U.S. Securities and Exchange Commission that led to reviews of his Tesla Inc.-related tweets by an in-house official who’s been referred to as the chief executive officer’s “Twitter Sitter.”

A judge in New York on Wednesday also denied Musk’s effort to block an SEC subpoena seeking information about Tesla’s public-disclosure controls.

Musk last month asked the judge to end oversight of his tweets, claiming the SEC is harassing him with excessively broad investigative demands and that the 2018 deal violates his right to free speech. He rejected the agency’s arguments that he freely agreed to the limits and that review of his tweets by a company securities lawyer doesn’t amount to government regulation of his speech. The judge agreed with the SEC.

“Musk cannot now seek to retract the agreement he knowingly and willingly entered by simply bemoaning that he felt like he had to agree to it at the time but now — once the specter of the litigation is a distant memory and his company has become, in his estimation, all but invincible — wishes that he had not,” U.S. District Judge Lewis Liman in Manhattan wrotes in his opinion.

The ruling comes as Musk, 50, appears to have clinched his bid to buy Twitter.

The case is U.S. Securities and Exchange Commission v. Musk, 18-cv-08865, U.S. District Court, Southern District of New York (Manhattan).

[ad_2]
Source link
Admin

Recent Posts

Kijangwin is the latest online video gaming provider

Kijangwin is your brand-new go-to destination for all things internet gaming. Whether you're an informal…

2 days ago

How to Style Trendy Clothes Effortlessly

Hey there, fashion enthusiasts! Are you ready to dive into the world of trendy clothes…

3 days ago

How to effectively recover your frozen/stolen funds from fraudulent platforms

Hey there! If you're reading this, there's a good chance you've found yourself in the…

3 days ago

Important things about Core 2 . 0 regarding Hemp Users

Hey there, hemp enthusiasts! If you've been on the hunt for the next big thing…

5 days ago

Exploring the Features and Benefits of Strio

Hey there! Have you ever found yourself tangled up in the world of communication and…

1 week ago

The Importance of Pre-Sale Pest Control: Ensuring a Smooth Home Transaction

Are you worried that hidden critters might derail your home sale? Selling a house can…

1 week ago