Elon Musk wants to be able to tweet again – ICT news

Tesla chief ElonMusk wants the U.S. Securities and Exchange Commission (SEC) supervisor to reverse the tweeting ban it imposed on him in 2018.

This is Musk’s request to a judge. The director of the electric car manufacturer believes that his right to freedom of expression is thus violated.

Musk also wants the judge to block the SEC from viewing documents related to his Twitter posts and the sale of stock and options in Tesla, as evidenced by exhibits he filed with the court. “I have never lied to shareholders and I never will,” Musk said in a statement. And to add that he had signed the document under pressure, so that Tesla continues to exist.

The SEC is investigating whether Musk and his brother Kimbal broke securities law when they sold shares of the company last year, an insider says. to the Bloomberg news agency. Kimbal would have sold shares for the occasion, before Elon lowered their price via a tweet. Last month, Tesla announced that it had received a subpoena from the SEC in this regard. The stock market monitor wanted to receive more information on the processes related to the agreed arrangement over Musk’s tweets. This is a dragging affair, as it began with tweets from Musk dating back to 2018.

Long story

At the time, a major scandal erupted, because Musk claimed via Twitter that he was considering delisting Tesla from the stock market and that the financing for the operation was settled. This turned out to be false, but the tweets in question caused Tesla’s stock price to rise sharply. Musk then found an arrangement with the comptroller. He promised to have all his tweets that could influence Tesla’s stock price checked by legal experts in advance. In the meantime, however, he would have violated this arrangement several times. For his part, Musk has also already filed a lawsuit with the SEC, because he claims that it targets him abusively. The SEC declined to comment directly, but had previously denied that Musk was the target of an endless series of investigations.

This is Musk’s request to a judge. The director of the electric car manufacturer believes that his right to freedom of expression is being violated. Musk also wants the judge to prevent the SEC from viewing documents related to his Twitter posts and the sale of stocks and options in Tesla, as appears from the exhibits he submitted to the court. “I have never lied to shareholders and I never will,” Musk said in a statement. And added that he had signed the document under pressure ‘so that Tesla would continue to exist’. , when they sold shares of the company last year, according to an insider who told the Bloomberg news agency. Kimbal would have sold shares for the occasion, before Elon lowered their price via a tweet. Last month, Tesla announced that it had received a subpoena from the SEC in this regard. The stock market monitor wanted to receive more information on the processes related to the agreed arrangement over Musk’s tweets. This is a dragging affair, as it began with tweets from Musk dating back to 2018. Tesla from the Stock Exchange and that the financing of the operation was settled. This turned out to be false, but the tweets in question caused Tesla’s stock price to rise sharply. Musk then found an arrangement with the comptroller. He promised to have all his tweets that could influence Tesla’s stock price checked by legal experts in advance. In the meantime, however, he would have violated this arrangement several times. For his part, Musk has also already filed a lawsuit with the SEC, because he claims that it targets him abusively. The SEC declined to comment directly, but had previously denied that Musk was the target of an endless series of investigations.

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