SEC Feuds With Tesla CEO Elon Musk Over Tweets

In August of 2018, SEC sued Tesla CEO Elon Musk after he tweeted that he had “funding secured” to potentially take Tesla private at $420 per share. The settlement that followed included a $20 million fine for Tesla and a $20 million personal fine for Musk—both of which were to be distributed to shareholders for a total $40 million payout. Additionally, Musk was hit with a “consent order,” which requires a Tesla lawyer to review his tweets before they're posted to Twitter. On Tuesday, Musk asked a federal judge to terminate his 2018 settlement with the SEC. John dissects the SEC’s ongoing feud with Musk over his Tweets.

Vague CT Rule Chills Attorneys’ Speech

Mark discusses NCLA’s lawsuit, Cerame v. Bowler, brought on behalf of two Connecticut-licensed attorneys whose speech is being chilled. 

​Connecticut has adopted an amendment to its Rules of Professional conduct for Connecticut-licensed lawyers that includes unconstitutional and impermissibly vague language governing speech by lawyers. The provision, Rule 8.4(7), applies broadly, permitting sanctions even against those who have not knowingly violated the Rule, and supplies only vague definitions of actionable speech on the basis of any one of 15 categories—among them race, sex, religion, disability, sexual orientation, and gender identity.

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