Elon Musk's bid to end SEC tweet settlement rejected

STORY: Elon Musk may have just bought Twitter, but he still can't Tweet whatever he likes.

A U.S. judge on Wednesday rejected an attempt by Musk to escape a settlement with regulators requiring oversight of his Tesla tweets.

The judge slammed the billionaire for "bemoaning" the 2018 deal now that he felt Tesla was "invincible."

The ruling comes after the Twitter board on Monday accepted Musk's $44 billion deal to buy the social media platform.

The dispute stems from the claim by the Securities and Exchange Commission that Musk, the CEO of Tesla, defrauded investors on Aug. 7, 2018, by tweeting that he had "funding secured" to potentially take the electric car company private at a premium, when in reality a buyout was not close.

Tesla shares rose following the tweet.

Musk's lawyers had sought to terminate the 2018 consent decree that resolved SEC securities fraud charges and argued the regulator's pursuit of Musk "crossed the line into harassment" and impeded his constitutional right to free speech.

U.S. District Judge Lewis Liman in Manhattan rejected those arguments as well as Musk's request to block a separate SEC investigation into tweets that he posted last year regarding the sale of some of his Tesla stock - causing Tesla's share price to fall.

Musk has since sold more than $16 billion of Tesla stock.

Meanwhile, he has been escalating his attacks on the SEC, and earlier this month he referred to the regulator as "those bastards."

Musk calls himself a free speech absolutist and has criticized Twitter's policies that moderate speech and are aimed at curtailing harassment.

Tesla did not immediately respond to a request for comment on Wednesday.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting