Supreme Court upholds requirement for Musk’s tweets approval

The Supreme Court has rejected an appeal from Elon Musk over a settlement with securities regulators, upholding the requirement for Musk to get approval in advance of some tweets related to Tesla. This requirement was part of a settlement with the Securities and Exchange Commission (SEC) following Musk’s tweets in 2018 claiming he had secured funding to take Tesla private.

The settlement also included fines for Musk and Tesla over the misleading tweets, which caused a temporary halt in trading and led to a surge in Tesla’s share price. The SEC’s enforcement action alleged that Musk’s tweets violated anti-fraud provisions of securities laws, prompting the requirement for pre-approval of certain tweets.