Elon Musk now seeks to exit a 2018 deal with U.S. Securities and Exchange Commission. The deal enabled an in-house official to review and regulate the company’s Twitter activity. Musk in his latest statement asking for the deal’s conclusion has accused the Commission of “misconduct”. Moreover, he referred to the in-house official reviewing the company’s online activity as a “Twitter Sitter”.
Elon Musk Accuses SEC Of Violating His Right To Free Speech
Musk has opened up about wanting to block the SEC subpoena that seeks information about Tesla’s public-disclosure controls. Moreover, the Tesla CEO wants to undo court orders that enabled the commission to review the tweets from his company. Elon Musk and his company signed a deal with SEC in 2018. The deal led to the installation of an official to review the company’s Twitter activity.
“The SEC argues that it has unfettered authority to subpoena whatever it wants, whenever it wants, so long as it obtains a formal order,” lawyers for Musk said in a court filing on Tuesday. “But the SEC’s investigatory power has limits, especially once, as here, it is leveraging a binding order especially entered and superintended by this Court.” SEC is yet to comment on the accusation, however, they’ve earlier stated that they’ve “legitimate purpose” in investigating the activities that Musk terms a violation of his free speech.
Earlier this month, Musk accused SEC of harassing him with “excessively broad investigative demands”. Moreover, the Tesla chief asked the court to end the regulation on his Tweets stating that the 2018 deal is a violation of his right to free speech. Furthermore, he argued against SEC’s claims that he agreed to the deal and the regulation by their company securities lawyer is contrasting to that of government regulation of his speech. “It is irrelevant whom the SEC has tasked with this duty; Mr. Musk’s speech is restrained as a result of the SEC’s prosecution just the same,” he said in the filing.