Even though he will soon own a social network, Musk can't use it to promote his company.
Despite the billionaire's plea, a federal judge ruled that he cannot get out of a settlement with the SEC just because he feels like it. The agreement required Musk to pay a $20 million settlement and step down from his role as chairman of the company for a period of three years, but also included a provision that Musk would not post anything on the internet.
Musk agreed to the provision requiring the pre-approval of any written communications that contain, or reasonably could contain, information material toTesla or its shareholders, according to the U.S. District Judge Lewis Liman.
The courts ruled on this issue on Wednesday, after Musk's lawyers first asked for a hearing in March. Things didn't go as planned for Musk.
It is not clear if the latest ruling will have any impact on Musk's habit on the social networking site. Since the beginning of the year, Musk has repeatedly commented on the company.
Tweet may have been deleted
Tweet may have been deleted
His acquisition of the social networking site is unlikely to change that habit.
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