Musk Loses Lawsuit Over 'Stopping Pre-Check of Tweets'

[Image source=Reuters Yonhap News]

[Asia Economy New York=Special Correspondent Joselgina] Elon Musk, CEO of Tesla, reportedly lost a lawsuit to overturn an agreement with the U.S. Securities and Exchange Commission (SEC) that required some of his tweets to be pre-reviewed, Bloomberg reported on the 27th (local time).

Musk had requested a court order to stop the monitoring of his tweets, arguing that the 2018 agreement with the SEC infringed on his freedom of expression, but the court dismissed the request.

Previously, Musk tweeted that he was considering delisting Tesla, then retracted the statement. The SEC filed a lawsuit accusing Musk of stock fraud, holding him responsible for causing market confusion. Subsequently, Musk agreed to pay a total fine of $40 million and settled with the SEC to have Tesla's in-house lawyers pre-review some of his tweets.

Judge Lewis Liman stated in the ruling that "Musk cannot now withdraw from the agreement he knowingly and willingly consented to at the time."

Additionally, the court rejected Musk's request to dismiss the SEC's subpoena investigation against him and Tesla. Earlier, in February, the SEC issued a subpoena to investigate compliance with the 2018 agreement and regulations related to Musk's tweets about selling Tesla shares.

This content was produced with the assistance of AI translation services.