Elon Musk is challenging the ‘Twitter sitter’ requirement again.

Robin Beck | Getty Images

Elon Musk.

According to Bloomberg, his lawyers said on Tuesday that a contract Musk signed with the SEC in 2018 — requiring Tesla-related tweets to be reviewed and approved — violated his First Amendment rights. submitted a document stating that

Elon Musk has a storied history of tweeting freely and facing (or avoiding) various consequences.

In May, shareholders sued him for market manipulation after he tweeted that a deal to buy Twitter was “pending.” In the same month, he began tweeting about withdrawing a bid to acquire the company, which he is currently trying to do. I asked about a tweet posted about

But this week, Mr. Musk’s lawyers embarked on another controversy. They tried again to remove the agreement the world’s richest man signed in 2018 after another tweet-related controversy.

On August 7, 2018, he tweeted that he had “secured funding” to take Tesla private. The company’s stock price rose about 10% on the day.

The SEC filed securities fraud charges against him in September as a result of that tweet, and the billionaire settled the following week. He and Tesla were each fined his $20 million under the agreement.

The SEC said at the time, “Tesla will form a new board of independent directors and implement additional controls and procedures to oversee Musk’s communications.

This means, according to NBC, a Tesla lawyer or Twitter sitter would need to approve tweets about the company.

Musk’s lawyers said this amounted to “pre-emptive restraint” in which the government suppresses speech, Bloomberg reported. This is mostly prohibited by the First Amendment, except in limited cases.

They also said the SEC would use the agreement to investigate his speech on an ongoing basis, NBC noted.

In April, federal judge Louis Lyman refused to exclude Musk from a tweet agreement with the SEC, Bloomberg noted. Musk “was simply lamenting that he felt he had to agree at the time,” but now “wish he didn’t,” Liman wrote.

Musk’s lawyers also argued that he was forced to sign the contract because of financial problems and that it was too broad because it covered future circumstances. There is

Quinn Emmanuel Urquhart & Sullivan attorney Alex Spiro, who had just started working for Ye (formerly known as Kanye West), was involved in the brief.

Elon Musk signed a merger deal with Twitter in April, but then moved to back out, resulting in a legal battle between him and the platform. At one of his first hearings on Tuesday, Twitter called on Musk to accuse him of removing evidence.

Spiro did not immediately respond to a request for comment.

Source link

By admin

Leave a Reply

Your email address will not be published. Required fields are marked *