The U.S. Supreme Court on Tuesday rejected a challenge brought by a former Xerox Corp executive and backed by Elon Musk to a Securities and Exchange Commission (SEC) rule requiring people who agree to settlements with the agency not to deny its allegations against them.
The justices declined to hear former Xerox chief financial officer Barry Romeril’s appeal of a lower court’s decision that the rule does not violate his free speech rights under the U.S. Constitution’s First Amendment. Romeril agreed under the rule not to deny accounting fraud allegations he settled with the SEC in 2003.
Source: U.S. Supreme Court rejects Musk-backed challenge to SEC’s ‘gag’ rule | Reuters
