Just days after Twitter accepted his offer to purchase the popular microblogging platform, Tesla and SpaceX CEO Elon Musk has now set his sight on the U.S. Supreme Court.

Musk signed onto an amicus brief that could prevent the U.S. Securities and Exchange Commission from issuing gag orders, which prevent people who settle with the SEC without admitting fault from discussing their cases, the New York Times reported.

More exclusive details of this report from The Daily Mail:

He signed a supporting petition filed by Barry Romeril, a former chief financial officer for Xerox, asking the Supreme Court to negate a 2003 deal in which he agreed to always stay silent about the fraud case against him.

Romeril had been one of six executives at Xerox who settled allegations of inflating the company’s earnings by $1.4 million in the late 1990s. As part of his deal with the federal regulators, Romeril had agreed not to deny the allegations against him and was permanently barred from serving as an officer of a public company.

He has since argued to the US Court of Appeals for the Second Circuit that the requirement he stays silent about the case violates his First Amendment right and no act of Congress authorizes such a sweeping restriction on freedom of speech. The appeals court, however, disagreed, with Judge Denny Chin writing last year that Romeril waived his right to deny the allegations when he agreed to the settlement.

“Now, Romeril is once again appealing the case – this time to the Supreme Court with the help of other business executives like Musk, who has also found himself in the SEC’s crosshairs following a 2018 agreement that censored what he could tweet.

The Tesla founder deal to purchase Twitter is not done yet.

There’s still a possibility that the Twitter deal doesn’t happen, although Twitter agreed on Monday to accept Musk’s offer to acquire the company.

Musk is reportedly on the hook to pay a $1 billion termination fee should the deal fall through, the filing from the securities and Exchange Commission revealed.  In one instance, the filing states that if the deal is not finalized on or before October 24, 2022, the SEC filing stipulates that Twitter “may terminate the Merger Agreement.”

Additionally, it could also fail if Twitter stockholders “fail to adopt the Merger Agreement.” This could only happen under “limited circumstances,” including if a third party other than Musk decides to offer “a competing acquisition proposal that constitutes a Superior Proposal.”

Musk wrote in his recent tweet that he’s willing to toe this line to get the deal finalized, “By ‘free speech’, I simply mean that which matches the law. I am against censorship that goes far beyond the law.”

Sources: Conservativebrief, DailyMail

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