What's happened
The US Supreme Court declined to hear Elon Musk's appeal over a settlement with the SEC that requires pre-approval for his tweets about Tesla. Musk's 2018 tweet about taking Tesla private led to a fraud lawsuit and the settlement. The court's decision means the provision stays in place.
Why it matters
The Supreme Court's decision has significant implications for corporate governance and the regulation of social media use by high-profile figures. It underscores the importance of transparency and accountability in financial communications, setting a precedent for responsible behavior in the public domain.
What the papers say
The Guardian and Axios report on Musk's failed appeal to the Supreme Court, emphasizing the regulatory implications and Musk's argument about free speech rights. The NY Post and Business Insider focus on the legal aspects of the case, detailing the SEC settlement and Musk's attempts to challenge the pre-approval requirement.
How we got here
Elon Musk's legal battle with the SEC began in 2018 after his tweet about taking Tesla private led to a fraud lawsuit. The settlement required pre-approval for his social media posts about Tesla, aiming to prevent market manipulation. Musk's appeal to the Supreme Court sought to overturn this requirement.
Common question
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Tesla, Inc. is an American electric vehicle and clean energy company based in Palo Alto, California. The company specializes in electric vehicle manufacturing, battery energy storage from home to grid scale and, through its acquisition of SolarCity, solar
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Elon Reeve Musk FRS is an engineer, industrial designer, technology entrepreneur and philanthropist. He is the founder, CEO, CTO and chief designer of SpaceX; early investor, CEO and product architect of Tesla, Inc.; founder of The Boring Company; co-foun
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The Supreme Court of the United States is the highest court in the federal judiciary of the United States of America. It has ultimate appellate jurisdiction over all federal and state court cases that involve a point of federal law, and original jurisdict