Elon Musk must still have his tweets approved by Tesla lawyer, federal appeals court rules
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Elon Musk cannot back out of a settlement with securities regulators that was reached after his 2018 tweets claiming he had secured funding to take Tesla private caused the electric vehicle maker's share price to jump and led to a temporary halt in trading, an appeals court ruled Monday.
The summary order by the 2nd U.S. Circuit Court of Appeals in Manhattan was released just days after a three-judge panel heard lawyers' arguments in the case.
Musk had challenged a lower court judge's ruling last year requiring him to abide by the deal on the grounds that circumstances have changed and because the decree contains a “prior restraint” that Musk contends violates the First Amendment.
The settlement with the Securities and Exchange Commission required that his tweets be approved fi...
