Tesla boss Elon Musk wants to overturn a regulation in court, according to which some of his tweets must first be approved by the electric car manufacturer. The requirement agreed with the US Securities and Exchange Commission SEC 2018 restricts his freedom of speech, Musk said in an application in New York.
After the SEC investigation, Musk had agreed to have tweets related to the Tesla business checked by the company. The trigger at the time was his failed attempt to take Tesla off the stock exchange. Musk wrote in a tweet that the funding was “secured”. It later turned out, however, that there were still no final commitments. The SEC then accused Musk of misleading investors and obtained the caveats. Until recently, it remained unclear how strictly Musk’s tweets were being followed.
In the past few weeks, there has been increasing tension between the SEC and Musk. Lawyers for the Tesla boss accused the regulator of harassing him. Meanwhile, the SEC is also investigating stock sales by Musk’s brother Kimbal and requested information. Kimbal Musk had sold Tesla shares days before a Twitter poll committed his brother to selling a larger stake. The Tesla price then plummeted. Musk denies any wrongdoing and wants to prevent the release of documents to the SEC.
