It is known to many that Elon Musk has somewhat of a reputation when it comes to his tweets, especially those that have caused criticism and led to the tech billionaire being charged with fraud. Musk tried to appeal the court's decision regarding his tweeting habits, but it has been dismissed.
Lawyer Still Has the Final Say
the Twitter CEO, at least until Linda Yaccarino takes over, tried to appeal the court ruling where a lawyer should first approve of his tweets that are Tesla-related. The federal court, of course, declines Musk's attempt to challenge the SEC's ruling.
The court panel stated that the Tesla CEO should've fought the charges or negotiated the conditions regarding the consent decree of the SEC, given that he feels that it was an unfair restraint on his freedom of speech, as mentioned in Engadget.
The consent decree from the Securities and Exchange Commission was implemented back in 2018, meaning that it has been more than four years since Musk is unable to tweet about his EV company without the go signal of a lawyer.
In case you haven't heard, all of this started with Musk's weed joke tweet stating that he is considering taking Tesla private at $420 per stock and that the funding has been secured. The tech CEO even insisted that the number had nothing to do with marijuana.
The denial, however, did not do the trick as he was still subjected to a $20 million fine, which is different from the other $20 million Tesla must pay. He was also asked to step down as the company's chairman on top of the consent decree.
Furthermore, Musk also claims that the Commission pressure him to make a deal and was out of bounds in its authority. The outcome of the ruling has caused a bit of bad blood between Musk and the Commission, as reports say.
Musk's Troubles on Twitter
It seems that even owning Twitter will not grant the tech billionaire the freedom to say whatever he wants. In fact, some of his tweets have even caused more harm than good, even more so with his new policies on the platform.
It hasn't been smooth sailing for Musk since he acquired Twitter. He has been met with many issues regarding his "free speech" advocacy, as well as the implementation of new rules. This resulted in the struggle of Twitter to be a profitable company.
His actions made advertisers believe that Twitter is no longer the best social media platform for their business, causing Musk to lose many of its major advertisers. It's a huge problem considering that Twitter Ads are the main source of income for the company.
People aren't also happy with the new verification process, where people will have to pay the Twitter Blue subscription fee to obtain the blue checkmark that Twitter has since placed on known personalities. Now, even normal everyday users can get the verification badge.
