Musk has been fighting the SEC over his posts since he tweeted in 2018 that he had “funding secured” to take Tesla private.
’s challenge to his 2018 agreement with the US Securities and Exchange Commission that requires him to have his Twitter posts about Tesla screened.
“We see no evidence to support Musk’s contention that the SEC has used the consent decree to conduct bad-faith, harassing investigations of his protected speech,” the panel said, upholding a lower-court ruling from last year.Musk may ask for a review of the case by the full appeals court or ask the US Supreme Court to take up the case.
Musk has been battling with the SEC over his social media posts since he tweeted in 2018 that he had “funding secured” to take Tesla private, sending shares of the electric car maker surging. The regulator sued, claiming Musk and Tesla had misled shareholders. The SEC has inquired three times about Musk’s Twitter posts, including the 2018 tweet, the court said. The regulator also sought documents related to a 2019 tweet misstating Tesla production figures and a 2021 Twitter poll in which Musk proposed selling 10% of his Tesla stock.
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