SAN FRANCISCO - A federal appeals court on Thursday questioned Elon Musk’s bid to end an agreement that he made to get a Tesla Inc lawyer’s preapproval of some of his tweets, with judges pointing out that he agreed to it as part of a 2018 deal with the US Securities and Exchange Commission.
The settlement resolved a lawsuit accusing Musk of defrauding investors with a Aug 7, 2018, tweet that he had “funding secured” to take his electric car company private, though a buyout was not close. US District Judges Reena Raggi and Debra Ann Livingston said during oral arguments that Musk could have foreseen the SEC seeking to enforce the agreement when he entered it.In settling, Musk agreed to let a Tesla lawyer screen tweets that might contain material information about the company.
Liman said Musk’s arguments amounted to a “bemoaning” of requirements he no longer wanted to adhere to now that “his company has become, in his estimation, all but invincible.”
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