Elon Musk cannot back out of a settlement with securities regulators that was reached after his 2018 tweets claiming he had secured funding to take Tesla private caused the electric vehicle maker’s share price to jump and led to a temporary halt in trading, an appeals court has ruled.That settlement with the Securities and Exchange Commission (SEC) required Musk to obtain prior approval from a Tesla lawyer for some of his tweets.Monday’s summary order by the United States Second Circuit Court of Appeals in Manhattan was released days after a three-judge panel heard lawyers’ arguments in the case.
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