Elon Musk Appeals SEC Case to US Supreme Court, Alleges Violation of Free Speech Rights

Contact Your Elected Officials
The Epoch Times Header

The industrialist asked the US Supreme Court to undo a part of a deal he made with the SEC, which he says violates his free speech rights.

Elon Musk asked the U.S. Supreme Court to undo a part of a deal he made with the Securities and Exchange Commission (SEC) that required vetting of his online posts, alleging that the deal violates his free speech rights, Mr. Musk’s lawyer, Ellyde Thompson, confirmed with The Epoch Times on Thursday.

The billionaire businessman asked the high court in a Dec. 7 petition to hear his appeal of a lower court’s decision in May that upheld a 2018 consent decree that he negotiated with the SEC, escalating a years-long feud between the industrialist and the powerful regulatory agency to the nation’s highest court.

The consent decree resulted from settlement negotiations of a 2018 lawsuit brought by the federal agency against Mr. Musk, which alleged that Mr. Musk made “false and misleading” statements to investors when he posted on Twitter (now X) in August of that year that he had “funding secured” to take private his electric car company, Tesla.

The terms of the consent decree, to which Mr. Musk agreed, stipulate that Mr. Musk steps down as the then-chairman of Tesla; Mr. Musk and Tesla each pay a civil penalty of $20 million; and that Mr. Musk obtain pre-approval from a securities lawyer before publishing written statements about Tesla or its shareholders.

In February 2019, the SEC alleged that Mr. Musk violated that deal when he posted on Twitter, “Tesla made 0 cars in 2011, but will make around 500k in 2019,” and sought contempt sanctions, which included fines and potential imprisonment.

After a few court proceedings, the two parties resolved the contempt sanctions, but Mr. Musk sought to quash the SEC’s consent decree, arguing that the SEC had exploited the decree to “punish protected speech” because Mr. Musk is an “outspoken and much-followed critic of the government generally, and the SEC specifically.”

A Manhattan-based federal district court and later a federal appeals court both ruled in favor of the SEC, on the rationale that Mr. Musk could not revisit the speech-vetting deal because he previously agreed to the deal in the settlement with the SEC.

By Gary Bai

Read Full Article on TheEpochTimes.com

The Epoch Times
The Epoch Timeshttps://www.theepochtimes.com/
Tired of biased news? The Epoch Times is truthful, factual news that other media outlets don't report. No spin. No agenda. Just honest journalism like it used to be.

Government Shutdown, Health Care, Tax Breaks=Perfect Storm

The shutdown over cuts to health subsidies for the poor stems from Trump’s OBBB plan, which critics say funneled trillions to the wealthy.

3I/Atlas Comet or UFO Arrives Tomorrow!

The 3I/Atlas object is hurtling toward our solar system on a strange path and composition, set to pass behind the sun, obscuring visual and radio tracking.

‘I’d Be Finished’: Vaccine Researcher Trashes Own Study to Save Career

Most doctors comply with the system, following orders to keep their jobs, income, and prestige, even if it means setting aside independent judgment.

Kamala, Please Run Again

Kamala Harris hinted she wants to run for President in 2028, despite poor poll numbers and her loss in 2024. If she runs, the big winners will be the GOP.

Rosie O’Donnell vs. Her Therapist

Rosie O’Donnell's therapist attempted to artfully introduce to her client to the possibility that Rosie's outrage might be performative. It didn’t take.

Government Shutdown Could Cost US Economy $14 Billion: CBO

The government shutdown could cost the U.S. economy up to $14 billion, a new analysis by the CBO said on Oct. 29.

Trump Says SNAP Benefits Will Be Solved for Next Month

President Trump said that he believes Republicans will solve how to fund food stamps, when he was asked about the SNAP and the government shutdown.

Pennsylvania Democrats’ Voter Registration Edge Shrinks Again

State records show the Democratic lead fell from about 686,000 in 2020 to about 178,000 by May 2025, and to 60,000 in the latest count.

Virginia Announces Alternative Food Stamp Program as SNAP Deadline Looms

Virginia is starting a state food stamp program as SNAP faces suspension amid the federal shutdown, pending new congressional funding.

Trump, Japanese PM Sign Critical Minerals, Rare Earths Deal

The U.S. president visited Tokyo on the second leg...

Trump Hikes Canada’s Tariffs by 10 Percent for Not Pulling Anti-Tariff Ad Immediately

Trump announced he will increase tariffs on Canada by 10% after ad by provincial government of Ontario misrepresented President Reagan’s speech on tariffs.

Trump Rolls Back Emissions Rules on Copper Smelters

President Trump issued a proclamation aimed at reversing a Biden-era environmental rule that enforced stricter air emission standards on copper smelters.

Donor Gives $130 Million to Cover Shortfall in Troop Pay During Shutdown

Trump announced on Oct. 23 that an anonymous donor sent $130M to cover military pay during the ongoing government shutdown.
spot_img

Related Articles

Popular Categories

MAGA Business Central