Musk could not persuade a court to lift a ban on social media statements without legal approval

US billionaire Elon Musk has sought to overturn a court ruling that barred him from publishing social media posts disapproved by lawyers. The ruling has been in place since 2018 and will remain in force.

Here's What We Know

Musk was partially restricted from speaking out in 2018. At the time, he said he had enough money to privatise Tesla. This led to a dramatic shift in the value of the US carmaker's securities. However, the billionaire never privatised the company, causing many investors to suffer.

After that, Elon Musk undertook to coordinate key statements with lawyers. Such a move did not help him hold on to his position as chairman of the Tesla board of directors. In addition to this, the American billionaire paid two fines totaling $40 million.

In court, the Tesla CEO wanted to prove bias on the part of the US Securities and Exchange Commission. Musk believes that the US regulator is violating freedom of speech. Despite this, the US Court of Appeals for the Federal Circuit in New York decided to uphold the restrictions.

Source: The Verge