Official announcements by the SEC or credible financial news outlets.

Supreme Court Upholds 'Twitter Sitter' SEC Settlement on Musk's Tesla Tweets

Apr 29, 2024, 02:36 PM

The U.S. Supreme Court has declined to hear an appeal by Elon Musk, often referred to as the 'Twitter sitter' case, against a securities fraud settlement with the Securities and Exchange Commission (SEC). This agreement, which arose from Musk's 2018 'funding secured' tweet suggesting he had financing to take Tesla private, mandates that his Tesla-related tweets be pre-approved by an in-house lawyer. The decision ensures that the original settlement, aimed at preventing misleading communications, remains in effect.