Musk had previously settled with the SEC over the tweets in 2018, and eventually struck a revised settlement agreement that called for a legal and regulatory compliance point person at Tesla (informally, a “Twitter sitter”) to pre-approve any of Musk’s tweets containing any information about the publicly traded company that could affect its stock price.
Musk’s attorney, Quinn Emanuel Partner Alex Spiro, wrote in a letter to the court this week that the SEC lacks support for their revised settlement agreement in light of the jury’s recent finding.
“The jury’s verdict provides further reason why the public interest in avoiding unconstitutional settlements easily subsumes the SEC’s purported stake in the consent decree,” Spiro wrote in a filing.
Source: Elon Musk’s lawyer asks court to throw out SEC ‘Twitter sitter’ deal
