NEW YORK (Reuters) – Elon Musk on Wednesday appealed a judge’s decision refusing to end the deal he made in 2018 with the Securities and Exchange Commission (SEC), the securities regulator. United States financiers, who demanded that a Tesla lawyer verify some of his Twitter posts.
According to a court document, Elon Musk will ask the United States Court of Appeals for the 2nd Circuit, Manhattan, to overturn the April 27 ruling by US Judge Lewis Liman that allowed the deal to be remain in effect.
The deal stems from an SEC lawsuit that alleged Tesla’s chief executive misled investors by tweeting on Aug. 7, 2018, that he had “secure funding” to take the electric car company private, while in reality a takeover was not close.
Elon Musk later agreed to an SEC consent decree requiring a Tesla attorney to screen tweets that may contain material company information.
In seeking to end the consent decree and quash part of the subpoena that followed, Elon Musk accused the SEC of infringing on his constitutional right to free speech and using the decree to launch “unconsidered investigations.” end and without limits on his remarks”.
Elon Musk is trying to buy Twitter Inc for 44 billion dollars (42.27 billion euros).
(Report Jonathan Stempel, French version Augustin Turpin, said by Kate Entringer)