NEW YORK — A federal appeals court on Monday rejected Elon Musk’s bid to modify or end his 2018 securities fraud settlement with the U.S. Securities and…
The 2nd U.S. Circuit Court of Appeals in Manhattan rejected Musk’s claim that the SEC exploited his consent decree to conduct bad-faith, harassing investigations that violated his First Amendment free speech rights under the U.S. Constitution.Sign up to receive daily headline news from the Calgary Herald, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
In the appeal, Musk’s lawyers called the pre-approval mandate a “government-imposed muzzle” that amounted to an illegal prior restraint on his speech. The panel said the SEC’s “limited, appropriate inquiries in this case have not made compliance with the consent decree ‘substantially more onerous'” for Musk, as he had argued.Article content
Alex Spiro, a lawyer for Musk, said in an email: “We will seek further review and continue to bring attention to the important issue of the government constraint on speech.”Monday’s decision upheld an April 2022 ruling by U.S. District Judge Lewis Liman in Manhattan.
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