“But the SEC, despite its burden to demonstrate by clear and convincing evidence that Musk violated the Order, fails to identify any other option for who would have that discretion. In fact, there is no other plausible interpretation of the Order or the Policy. If Musk were not vested with this discretion, then he would need to submit all Tesla-related tweets for review by Disclosure Counsel prior to posting. That is not what the Parties agreed to, nor what the Policy or Order requires.“
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