Elon Musk , Loses Appeal of , 'Twitter Sitter' Provision .<br />On April 29, the Supreme Court denied billionaire <br />Elon Musk's challenge to the terms of a Securities<br />and Exchange Commission agreement. .<br />On April 29, the Supreme Court denied billionaire <br />Elon Musk's challenge to the terms of a Securities<br />and Exchange Commission agreement. .<br />NBC reports that the SEC requirement <br />would require a lawyer to review <br />the Tesla CEO's social media posts. .<br />In his appeal, Musk argued that the SEC's requirement, <br />which has been dubbed the 'Twitter sitter' provision, <br />unlawfully imposed conditions on his freedom to comment. .<br />In his appeal, Musk argued that the SEC's requirement, <br />which has been dubbed the 'Twitter sitter' provision, <br />unlawfully imposed conditions on his freedom to comment. .<br />The SEC requirement stems from Musk's tweets in 2018 that <br />claimed he was taking Tesla private, which shocked the <br />market and caused shares in the company to surge.<br />The SEC requirement stems from Musk's tweets in 2018 that <br />claimed he was taking Tesla private, which shocked the <br />market and caused shares in the company to surge.<br />The SEC deemed the tweets <br />"materially false and misleading," <br />and in clear violation of securities laws.<br />At the time, Musk agreed to settle the issue <br />with the SEC, which included his signing off <br />on the so-called "Twitter sitter" provision.<br />NBC reports that Musk has since said <br />the restrictions are unconstitutional and that <br />he was coerced into signing the SEC agreement.<br />According to court papers, lawyers <br />representing Musk have accused the SEC <br />of waging an "ongoing campaign" against Musk.<br />Musk's legal team claim the provision , "restricts Mr. Musk’s speech even <br />when truthful and accurate.".<br />It extends to speech not <br />covered by the securities laws <br />and with no relation to the conduct <br />underlying the SEC’s civil action, Elon Musk legal team, via NBC.<br />In response, the SEC said in court papers <br />that Musk waived his right to appeal <br />when he signed off on the settlement.
