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Monday, May 27, 2024

Supreme Courtroom rejects Elon Musk’s efforts to do away with his ‘Twitter sitter’

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Musk has been required to obtain approval from his so-called “Twitter sitter” after signing a consent decree with the SEC in 2018 in response to his tweets about taking Tesla non-public, by which he falsely acknowledged to have “funding secured.”

However ever since agreeing to the settlement, Musk has been trying to wriggle his means out of the consent decree that he have a lawyer evaluate posts that might have a cloth affect on Tesla earlier than publishing them. Furthermore, if the Twitter sitter does certainly exist, nobody has stepped ahead to say the job. Tesla has declined to establish the particular person. And Bloomberg’s Dana Hull, who has been investigating the Twitter sitter for years, has but to show up a reputation.

The Twitter sitter lives on

Final yr, a federal appeals court docket rejected Musk’s bid to toss or modify the settlement. Musk’s attorneys appealed the choice to the Supreme Courtroom, arguing it violated their shopper’s free speech rights. However immediately, the court docket declined to take up the case, leaving the decrease court docket’s ruling in place.

The federal appeals court docket discovered that the SEC has solely investigated three of his previous tweets: the notorious 2018 “funding secured” tweet that subsequently resulted within the consent decree, a $40 million effective, and Musk shedding the chairmanship of Tesla; and two different tweets, one which contained deceptive details about Tesla’s automobile manufacturing and the opposite concerning a ballot proposing Musk promote 10 p.c of his Tesla inventory.

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