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Supreme Court denies Elon Musk's request for a 'Twitter sitter' to monitor his Tesla-related posts.

The Supreme Court dismissed Tesla CEO Elon Musk's petition on Monday, refusing to let him retract his 2018 settlement deal with the Securities and Exchange Commission (SEC) that arose from tweets on the company's financial performance the SEC deemed as fraudulent.

SymClub
May 1, 2024
1 min read
News
Elon Musk, owner of X, formerly Twitter, gestures as he attends a conference in Paris in June 2023.
Elon Musk, owner of X, formerly Twitter, gestures as he attends a conference in Paris in June 2023.

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Elon Musk's controversial tweet in 2018 falsely claimed he had the funds required to privatize Tesla for $420 per share. This led to significant stock market fluctuations. To prevent further legal issues, Musk accepted a settlement that included a condition that all his Tesla-related social media posts be approved by a lawyer.

Despite agreeing to this "Twitter sitter" condition, Musk soon challenged it as an infringement on his First Amendment rights. Later in 2022, Musk acquired Twitter and renamed it X.

When Musk appealed this ruling, the Supreme Court chose not to comment, and there were no apparent dissents.

Tesla's legal battles included a US District Court and the 2nd US Circuit Court of Appeals rejecting Musk's plea to label the Twitter sitter agreement invalid. A three-judge appeals court panel noted that Musk had the option to preserve his right to tweet freely or negotiate a different arrangement, but he chose not to. "We find no evidence to support Musk's concern that the SEC has engaged in harassing investigations over his protected speech," the panel concluded.

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    Source: edition.cnn.com

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