Musk asks the US Justice to eliminate supervision of his tweets about Tesla

The Billionaire Entrepreneur Elon Musk asked this Tuesday to the Justice of USA remove judicial oversight of his tweets related to Tesla -a measure imposed on him in 2018 by the stock market regulator- in view of his recent victory in the process for the consequences of those messages.

The businessman’s lawyer, Alex Spiro, today demanded that an appeals court suspend the measure, which he considers “unconstitutional“because it was imposed “through a trap” and that supposes for practical purposes a “extortion”.

In a trial in San Francisco that concluded on February 3, Musk was found not responsible for the alleged millions in losses that several investors attributed to some tweets he wrote in 2018, in which he said he had enough funds to take the company off the stock market. something that never happened.

In 2018, the Securities and Exchange Commission (SEC) charged Musk with messaging fraud, and the businessman settled the case by agreeing to pay a fine, temporarily stepping aside from an executive position, and agreeing to have his Tesla-related tweets monitored by a lawyer due to to its potential impact on the stock market.

Musk has previously unsuccessfully appealed the agreement, arguing that it violates his freedom of expression and now argues that this measure is not upheld after the San Francisco jury found in its verdict that the tweets were not misleading, the premise from which that one started. supervision order.

“I am considering taking Tesla public at $420. Secured financing”, said the scrutinized tweet, in which Musk referenced the price per share he could offer in the deal, which would have valued the company at about $72 billion.

Then he added another message that said: “Investor support is confirmed. The only reason this is not certain is that it depends on the shareholder vote.”

Source: EFE