Tesla boss Elon Musk has asked an appeals court to overturn a 2018 deal with the Securities and Exchange Commission.<\/p>\n\n\n\n
The arrangement means a company lawyer<\/a><\/strong> must examine any of his tweets about the company before publishing them. <\/p>\n\n\n\n Musk’s latest court battle comes after his victory in a securities fraud trial.<\/p>\n\n\n\n Read More: Elon Musk wins securities fraud lawsuit over 2018 Tesla tweet<\/a><\/strong><\/p>\n\n\n\n A jury in San Francisco ruled he was not accountable for the repercussions of his 2018 Tesla posts.<\/p>\n\n\n\n Tesla investors had sued him, claiming that his Tesla go-private tweet had cost them billions of dollars.<\/p>\n\n\n\n It said he had \u201cfunding secured\u201d to take the automaker private for $420 per share and that \u201cinvestor support\u201d for such a deal was \u201cconfirmed.\u201d<\/p>\n\n\n\n Musk had previously settled with the SEC over the tweets in 2018 and finally made a revised settlement deal.<\/p>\n\n\n\n The settlement required a legal and regulatory<\/a><\/strong> compliance point person at Tesla, dubbed \u201cTwitter sitter.\u201d<\/p>\n\n\n\n Need Career Advice?<\/strong> Get employment skills advice at all levels of your career<\/strong><\/a><\/p>\n\n\n\n The “Twitter sitter” has to pre-approve any of Musk\u2019s tweets having any details about the public company that could impact its stock price. <\/p>\n\n\n\n In light of the jury’s recent judgement, Musk’s attorney<\/a><\/strong>, Alex Spiro, wrote in a letter to the court that the SEC lacked support for its revised settlement deal.<\/p>\n\n\n\n He said: \u201cThe jury\u2019s verdict provides further reason why the public interest in avoiding unconstitutional settlements easily subsumes the SEC\u2019s purported stake in the consent decree.\u201d<\/p>\n\n\n\n Musk and the SEC did not immediately respond to requests for comment.<\/p>\n\n\n\n Shareholders’ attorneys who sued Musk and Tesla over the take-private tweets still have time to submit an appeal.<\/p>\n\n\n\n Source: <\/strong>CNBC<\/strong><\/a><\/p>\n\n\n\n Follow us on YouTube<\/strong><\/a>, Twitter<\/strong><\/a>, LinkedIn<\/strong><\/a>, and Facebook<\/strong><\/a>.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" The arrangement means a company lawyer must examine any of his tweets about the company before publishing them. <\/p>\n","protected":false},"author":5,"featured_media":29688,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2456,1065],"tags":[686,329],"class_list":["post-37356","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-twitter-news","category-us-business-news","tag-elon-musk","tag-twitter"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.whatjobs.com\/news\/wp-json\/wp\/v2\/posts\/37356","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.whatjobs.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.whatjobs.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.whatjobs.com\/news\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.whatjobs.com\/news\/wp-json\/wp\/v2\/comments?post=37356"}],"version-history":[{"count":0,"href":"https:\/\/www.whatjobs.com\/news\/wp-json\/wp\/v2\/posts\/37356\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.whatjobs.com\/news\/wp-json\/wp\/v2\/media\/29688"}],"wp:attachment":[{"href":"https:\/\/www.whatjobs.com\/news\/wp-json\/wp\/v2\/media?parent=37356"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.whatjobs.com\/news\/wp-json\/wp\/v2\/categories?post=37356"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.whatjobs.com\/news\/wp-json\/wp\/v2\/tags?post=37356"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}