whether US Presidents should be above the law to pass on Musk’s attempt to throw out the agreement, which required him to pay fines, step down from Tesla’s board and have his tweets pre-screened by a lawyer., “Am considering taking Tesla private at $420. Funding secured.” He also posted, “Investor support is confirmed. Only reason why this is not certain is that it’s contingent on a shareholder vote.” Tesla’s stock rose by more than six percent.
There was only one tiny problem: The funding wasn’t secured, and the SEC takes false statements that affect investors very seriously. The SEC said, “Musk had not even discussed, much less confirmed, key deal terms, including price, with any potential funding source” and that he “knew that he had not satisfied numerous additional contingencies.” The government agency claimed the post caused “significant confusion and disruption in the market for Tesla’s stock.
His appeal said the settlement forced him to “waive his First Amendment rights to speak on matters ranging far beyond the charged violations.” Musk, who currentlyan estimated net worth of $185 billion, claimed he was a victim of “economic duress” when agreeing to the settlement, which he described as a tactic to “muzzle and harass” him and his company.
The 2nd Circuit appeals court, whose ruling will now be the final word on the matter, shot down Musk’s arguments. “Parties entering into consent decrees may voluntarily waive their First Amendment and other rights,” they said. The appeals court saw “no evidence to support Musk’s contention that the SEC has used the consent decree to conduct bad-faith, harassing investigations of his protected speech.
Source: Entertainment Trends (entertainmenttrends.net)
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Elon Musk Clashes with Brazilian Supreme Court Justice Over Free Speech on XBillionaire Elon Musk is facing a dispute with a Supreme Court justice in Brazil regarding free speech, far-right accounts, and misinformation on X, the social media platform he acquired from Twitter. Musk's ownership of Twitter has led to significant changes in policies and content on the platform, as well as attempts to influence global political discourse. This latest conflict involves the largest country in South America, with a population of 203 million.
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