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The US Supreme Court rejects Elon Musk’s appeal in ‘funding secured’ tweet ruling

On Monday, the US Supreme Court dismissed Elon Musk’s appeal about a 2018 SEC settlement regarding a “funding secured” tweet. The conservative-majority court passed on Musk’s attempt to throw out the agreement.

Ars Technica reports that the conservative-majority court took a break from weighing whether US Presidents should be above the law to pass on Musk’s attempt to throw out the agreement, which required him to pay fines, step down from Tesla’s board and have his tweets pre-screened by a lawyer. The SEC said, “Musk had not even discussed, much less confirmed, key deal terms, including price, with any potential funding source” and that he “knew that he had not satisfied numerous additional contingencies.” The government agency claimed the post caused “significant confusion and disruption in the market for Tesla’s stock.” The appeals court saw “no evidence to support Musk’s contention that the SEC has used the consent decree to conduct bad-faith, harassing investigations of his protected speech.”

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