Elon Musk must still have his tweets approved by Tesla lawyer, court rules

(PA)

Elon Musk cannot back out of a settlement reached after his 2018 tweets claiming he secured funding to take Tesla private caused the firm’s share price to jump and led to a temporary halt in trading, an appeals court has ruled.

The summary order by the 2nd US Circuit Court of Appeals in Manhattan was released just days after a three-judge panel heard lawyers’ arguments in the case.