HOT: Elon Musk may lose his freedom of speech because of his reckless tweeting on Twitter
Legal experts say this incident makes it unlikely that billionaire Elon Musk will be able to circumvent the law again.
Celebrating Tet in three regions at SC Vivocity
According to Reuters, the US Securities and Exchange Commission (SEC) has urged federal judges to tighten billionaire Elon Musk’s use of Twitter based on settlement agreements in 2018.
“When it comes to civil settlements, a settlement is a settlement. Nothing has changed from what was previously offered… When Tesla used Musk’s Twitter account to provide information to investors, the SEC would have the right to investigate its legality,” the SEC representative said.
In a filing in Manhattan federal court, the SEC said billionaire Elon Musk failed to comply with the agreement in 2018, tweeting without consulting his attorney. The agency also urged Judge Alison Nathan to dismiss Musk’s attempt to quash a subpoena related to a probe last November into the sale of 10% of Tesla’s stock.
In response, Elon Musk argued that having to wait for legal review was “more of an inconvenience than he expected” and hoped the SEC would stop investigating Tesla’s disclosure practices.
Elon Musk hopes the SEC will stop investigating Tesla’s disclosure practices.
Alex Spiro, Elon Musk’s personal lawyer, and Tesla have yet to comment. Legal experts say this incident makes it unlikely that billionaire Elon Musk will be able to circumvent the law again.
Elon Musk’s dispute with the SEC stems from the regulator’s claim that the Tesla CEO misled investors on August 7, 2018. Musk tweeted at the time that he had “funding secured” to take Tesla private, but the deal had not yet been completed. Tesla agreed to pay a $20 million fine to the SEC, while Elon Musk agreed to step down as chairman to appease public opinion.
The Tesla CEO has since repeatedly accused the SEC of “harassing” him with its relentless investigations in an attempt to punish free speech in his tweets. In response, the SEC has argued that it has broad authority and a “legitimate purpose” to investigate both Elon Musk and Tesla.
“Elon Musk has complained about the number of SEC investigations and has called them harassment. However, given the violations committed by Musk and Tesla, the SEC’s requests are completely legitimate,” the SEC representative said.
Elon Musk and US President Joe Biden repeatedly attacked each other on Twitter
Not only freely speaking about Tesla stocks and many meme cryptocurrencies, Elon Musk also previously used Twitter to publicly “sarcastically” US President Joe Biden after continuously “ignoring” the world’s leading electric car company.
He called President Biden a “puppet,” saying that the leader was “controlled by unions,” especially after the Joe Biden administration proposed an electric vehicle stimulus package that only applied to buyers of cars produced by unions.
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