Elon Musk still needs “Twitter sitter,” judge rules – CNBC

SpaceX owner and Tesla CEO Elon Musk at the E3 gaming convention in Los Angeles, California, June 13, 2019.Mike Blake | ReutersTesla CEO Elon Musk lost an appeal to unwind parts of a consent decree that he and the automaker struck with the Securities and Exchange Commission to settle civil securities fraud charges in 2018.The ruling, issued Monday by a federal appeals court, affirms a prior decision from the U.S. District Court for the Southern District of New York, which issued the initial denial.Musk has litigated with the SEC for years over the consent decree, which was revised in 2019 after the SEC charged Musk with making “false and misleading” statements in his Aug. 2018 “funding secured” tweets. The Tesla CEO said he had found a buyer to take the automaker private at $420 a share, a claim which a federal judge later found to be false.The agreement required “pre-approval” for tweets by Musk that contained information material to Tesla, and which extended to “certain senior executives,” according to the judgment.A February letter from Musk attorney Alex Spiro said the terms of the consent decree, which was revised in 2019, amounted to “unconstitutional” infringement of his free speech rights.But the
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