US Supreme Court Rejects Elon Musk's Appeal Against SEC Social Media Restrictions

The US Supreme Court refused to hear Elon Musk's appeal of a settlement requiring him to have Tesla's social media posts about the company pre-approved by a lawyer.

Musk had sought to overturn SEC restrictions following a 2018 tweet where he claimed to have secured funding to take Tesla private, causing a stock price surge without providing proof or filing paperwork.

The SEC ruled that a tweet by Elon Musk was false and misleading, leading to accusations of securities fraud against Tesla.

Musk was ordered to pay a $20 million fine, step down as chair of Tesla's board, and have his social media posts related to the company vetted by a lawyer.

Musk filed a petition with the Supreme Court in December, arguing that the agreement was an unconstitutional infringement on his right to free speech.