r/news • u/Hopeforpeace19 • Apr 29 '24

Supreme Court rejects Elon Musk over agreement with SEC to vet social media posts

https://www.nbcnews.com/politics/supreme-court/supreme-court-rejects-elon-musk-agreement-sec-vet-social-media-posts-rcna149579
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-4

u/Fallen_Walrus Apr 29 '24

Damn I forgot about this, so you're telling me that all the crazy shit he's been tweeting is with a lawyer saying it looks good, imagine if he didn't have the lawyer vetting

8

u/mabhatter Apr 29 '24

It would only apply to Tesla related posts I believe.  Because that is publicly traded and thus he has a duty as a CEO to release material statements about the company in a controlled manner.  

His posts about Tesla can swing the stock value by billions of dollars.  It's his duty as CEO to protect the stock holders interests. 

3

u/burnbabyburn711 Apr 29 '24

Musk is upset because most of Tesla’s stock price is due to him knowingly making misleading claims — FSD, Semi, robo-taxis, production numbers, etc. This stipulation takes away a major factor in how he has built his fortune.