'To the contrary, the record indicates that the SEC has opened just three inquiries into Musk's tweets since 2018,' they said. In the Monday ruling, the judges disagreed. In February, Musk's attorney Alex Spiro said the restriction was an unconstitutional infringement of the CEO's free-speech rights, per CNBC. In a September brief, Musk's team urged the courts to throw out the 'Twitter sitter' agreement, calling it a 'government-imposed muzzle' restricting the CEO's freedom of speech, Reuters reported. However, the deal failed to materialize and investors subsequently accused him of manipulating Tesla's share price.Īs part of the SEC settlement, Musk and Tesla also each agreed to pay $20 million worth of fines and Musk agreed to step down as chair of Tesla's board. Musk wrote his infamous 'funding secured' tweet to the 22 million Twitter followers he had at the time. However, on Monday a panel of three judges dismissed those claims, saying that the court saw 'no evidence to support Musk's contention that the SEC has used the consent decree to conduct bad-faith, harassing investigations of his protected speech.' Musk has been fighting back against the clause for some time, saying it violated his freedom of speech.

This clause came as a result of a 2018 tweet where Musk said he had 'funding secured' to take Tesla private at $420 a share.

The 'Twitter sitter' clause means that Musk's Tesla-related tweets must be reviewed by another company executive.

Musk had been fighting back against the clause, saying it violated his freedom of speech.Įlon Musk has lost an appeal against an SEC agreement that landed him with a 'Twitter sitter.' In 2018, Musk agreed that his Tesla-related tweets would be reviewed by other company executives. Michael Gonzalez/Getty ImagesĮlon Musk has lost an appeal to get rid of his 'Twitter sitter' for tweets about Tesla.

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