NEW YORK :A federal appeals court on Monday rejected Elon Musk's bid to modify or end his 2018 securities fraud settlement with the U.S. Securities and Exchange Commission that required a Tesla Inc lawyer to approve some of his tweets in advance.The 2nd U.S. Circuit Court of Appeals in Manhattan rejected Musk
NEW YORK :A federal appeals court on Monday rejected Elon Musk's bid to modify or end his 2018 securities fraud settlement with the U.S. Securities and Exchange Commission that required a Tesla Inc lawyer to approve some of his tweets in advance.
It required advance review of tweets that might contain material information about Tesla. Musk and Tesla each also paid $20 million in civil fines, and Musk gave up his role as chairman. The panel said the SEC's"limited, appropriate inquiries in this case have not made compliance with the consent decree 'substantially more onerous'" for Musk, as he had argued.
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