Tesla boss Elon Musk is going to the US Supreme Court to get rid of controls imposed in 2018 on his social media posts about the electric car manufacturer.
The then agreement with the US Securities and Exchange Commission violated his constitutional right to freedom of expression, Musk’s lawyers argued in their filing on Thursday.
The technology billionaire has already failed in two lawsuits in his attempts to overturn the demand. It is unclear whether the Supreme Court will hear the case. The already extended deadline for an application expired on Thursday.
The SEC had forced Musk to first have the company approve his posts on the short-messaging service Twitter about Tesla, which could impact the automaker’s stock price. Musk bought Twitter in October 2022 and has since rebranded the platform as X.
The reason for the arrangement was Musk’s tweets from August 2018. Musk wrote on Twitter at the time that he was considering taking Tesla private. “Funding secured,” he added. This sentence later led to a lot of controversy, as it turned out that there were no written commitments from investors.
The SEC accused Musk of misleading investors and forced him to resign as chairman of the board in addition to monitoring his tweets. Musk and Tesla also each paid a $20 million fine.
(saw/sda/awp/dpa)
Source: Watson
I’m Ella Sammie, author specializing in the Technology sector. I have been writing for 24 Instatnt News since 2020, and am passionate about staying up to date with the latest developments in this ever-changing industry.
