Elon Musk continues to be controlled when tweeting about Tesla
A judge ruled that Elon Musk will not be able to get out of a deal with the US Securities and Exchange Commission (SEC) in 2018.
Elon Musk will continue to be monitored when tweeting about his company on social networkBloomberg reported.
A judge denied Elon Musk’s request to revoke control over tweets and block an SEC subpoena related to possible insider trading.
Last month, Elon Musk asked a federal court to end the agreement, saying he felt “forced” to agree to the order at a time when Tesla’s finances were at risk.
He describes himself as a “liberalist”, and claims through his attorney that the agreement affects his First Amendment rights.
Currently, Elon Musk cannot withdraw the agreement he entered into by whining, according to Judge Lewis Liman. Therefore, Elon Musk still has to comply with this censorship requirement every time he wants to talk about the electric car company Tesla on social networks.
After Elon Musk tweeted that he had “guaranteed funds” to buy Tesla for $420, the SEC sued the billionaire for misleading investors. The lawsuit was finally settled when Elon Musk and Tesla agreed to pay $20 million each and Musk’s Tesla-related tweets would have to be censored by a lawyer.
The judge also denied Elon Musk’s request to rescind an SEC subpoena related to a probe into the United States. Twitterwhen he proceeded to ask users whether they should sell Tesla stock.
SEC officials are concerned that the billionaire may have told his brother Kimbal about the probe, which resulted in the brother selling 88,500 shares just a day before the tweet was posted.
In response, Elon Musk said that the Twitter probe in question was only intended to gather input, not disclose information that he must report to the SEC.
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