A lawyer for Tesla CEO Elon Musk says in court documents that U.S. Securities regulators are unlawfully muzzling his client. elonmusk twitter tesla kprc2 click2houston sec
FILE - Tesla and SpaceX Chief Executive Officer Elon Musk speaks at the SATELLITE Conference and Exhibition in Washington. A Delaware judge is hearing arguments, Tuesday, Sept. 27, 2022 over the exchange of information by lawyers in Twitter's lawsuit seeking to force billionaire Elon Musk to carry through with his $44 billion acquisition of the social media giant. – U.S.
But in the brief, Musk attorney Alex Spiro contends that the SEC is continually investigating Musk for topics not covered by the settlement. It asks the Second Circuit Court of Appeals to strike or modify the prior approval provision. The whole dispute stems from an October 2018 agreement with the SEC that Musk signed. He and Tesla each agreed to pay $20 million in civil fines over Musk’s tweets about having the “funding secured” to take Tesla private at $420 per share.
Limon’s ruling said that Musk made the tweets without getting pre-approval, but the judge later wrote that he didn’t mean to pass judgment on that issue.Spiro writes that Mr. Musk’s waiver of his First Amendment rights in the settlement was not voluntary because there was no way for Musk to know how far reaching it was. “The provision applies to future speech about circumstances no one could anticipate in advance,” he wrote.
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