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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInElon Musk still needs ‘Twitter sitter,’ judges rule
A February letter from Musk attorney Alex Spiro said the terms of the consent decree amounted to “unconstitutional” infringement of his free-speech rights. But the U.S. Court of Appeals for the Second Circuit dismissed those claims, writing that the court saw “no evidence to support Musk’s contention that the SEC has used the consent decree […]
Elon Musk’s bid to end tweet pre-approval faces skeptical court | Reuters
A federal appeals court on Thursday questioned Elon Musk’s bid to end an agreement that he made to get a Tesla Inc (TSLA.O) lawyer’s preapproval of some of his tweets, with judges pointing out that he agreed to it as part of a 2018 deal with the U.S. Securities and Exchange Commission. Musk’s attorney Ellyde […]
Elon Musk Trial Win a ‘Non Sequitur’ in Twitter Sitter Case, SEC Says – Bloomberg
Musk’s lawyer argued to the appeals court that the San Francisco verdict confirms that Musk’s tweets didn’t violate securities laws. Investors had sued Musk over the “funding secured” tweet, claiming he defrauded them. A federal jury took just two hours to clear him, sending shares of the electric car maker surging. That verdict is irrelevant, […]