He may be Chief Twit but the second richest man on Earth still has to comply with an SEC consent decree that requires oversight on some Tesla-related posts.
was attempting to “muzzle and harass” the billionaire by digging into specific posts. Spiro additionally said that the SEC’s oversight was “calculated to chill” Musk’s First Amendment rights.Yet, according to the Monday ruling, the federal appeals judges don’t think the second richest man on Earth is being unfairly muzzled, harassed, or deprived of freedom.
” the panel wrote. “Whether or not the consent decree may have ‘provide[d] broader relief than the court could have awarded after a trial’ does not detract from the SEC’s ability to enforce the agreement Musk voluntarily signed.” Basically, through consent decrees, people are allowed to sign away some of their First Amendment rights. And Musk knowingly did so when he agreed to the SEC’s settlement terms. “Had Musk wished to preserve his right to tweet without even limited internal oversight concerning certain Tesla-related topics, he had ‘the right to litigate and defend against the [SEC’s] charges’ or to negotiate a different agreement—but he chose not to do so.
But the judges pointed out that nothing in the law had shifted and that the public still probably benefits from some oversight of the CEO’s public communications regarding their companies.“The public interest [does not] require modification of the consent decree. If anything, it cuts in the other direction,” the panel wrote.
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