Photo: Tesla
Donald Trump must have handed Elon Musk the Baton after he unceremoniously exited twitter. The Tesla CEO hit the headlines for the second time in a week over remarks he made on Twitter. Through a federal court filing on Wednesday, he urged the judge not to prevent him from publicly discussing a lawsuit accusing him of deceiving Tesla shareholders.
Tesla Inc shareholders filed a lawsuit against the CEO over a tweet he made in 2018 and accused him of deceiving them about taking the company private, Reuters reported.
Earlier in the week, U.S. District Judge Edward Chen ruled the said tweet was 'false and misleading.'
In the filing with the Federal court in San Francisco, Musk and Tesla's lawyers said the shareholders' request to have an overboard "gag order" evokes the level of censorship entirely incompatible with the United States justice system and the tenets of free speech.
Musk further said that the restrictions would prevent him from reaching out to Tesla shareholders, discussing his recent plans to buy out social media platform Twitter, and trying to end his consent decree with the U.S. SEC (Securities and Exchange Commission) that requires Tesla lawyers to vet his tweets before going public.
On August 7, 2018, the CEO tweeted that he considered taking Tesla private. According to the tweet, he claimed that he would pay $420 per share and had secured funds. Shareholders are seeking damages citing he recklessly made the statements with knowledge of falsity.
Tesla shareholders sought a temporary restraining order on April 15 to block the CEO from publicly discussing the case until May, when the trial by jury will begin.
During a recent TED interview in Vancouver, Musk revealed that he was serious about taking the electric car company private and had the funds. Still, the SEC sued him for fraud.
Musk insists that he did not lie to Tesla shareholders. He has offered to buy Twitter for $43 billion. The social media company's shares are currently at $46.85, lower than his offer of $54.20.
Earlier in the week, U.S. District Judge Edward Chen ruled the said tweet was 'false and misleading.'
In the filing with the Federal court in San Francisco, Musk and Tesla's lawyers said the shareholders' request to have an overboard "gag order" evokes the level of censorship entirely incompatible with the United States justice system and the tenets of free speech.
Musk further said that the restrictions would prevent him from reaching out to Tesla shareholders, discussing his recent plans to buy out social media platform Twitter, and trying to end his consent decree with the U.S. SEC (Securities and Exchange Commission) that requires Tesla lawyers to vet his tweets before going public.
On August 7, 2018, the CEO tweeted that he considered taking Tesla private. According to the tweet, he claimed that he would pay $420 per share and had secured funds. Shareholders are seeking damages citing he recklessly made the statements with knowledge of falsity.
Tesla shareholders sought a temporary restraining order on April 15 to block the CEO from publicly discussing the case until May, when the trial by jury will begin.
During a recent TED interview in Vancouver, Musk revealed that he was serious about taking the electric car company private and had the funds. Still, the SEC sued him for fraud.
Musk insists that he did not lie to Tesla shareholders. He has offered to buy Twitter for $43 billion. The social media company's shares are currently at $46.85, lower than his offer of $54.20.
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