Musk won’t have to give up any money he allegedly saved from delaying disclosure of initial purchase of Twitter stock Sign up for the Breaking News US newsletter email Elon Musk settled the US Securities and Exchange Commission’s civil lawsuit accusing the world’s richest person of waiting too long in 2022 to disclose his initial purchases of stock in Twitter, now known as X. A trust in Musk’s name will pay a $1.5m civil penalty, without admitting wrongdoing. Musk won’t have to give up any money he allegedly saved from the delay. The settlement was disclosed on Monday in the Washington DC federal court. In its January 2025 lawsuit, the SEC said Musk’s 11-day delay in revealing his initial 5% Twitter stake in late March and early April 2022 let him buy more than $500min shares at artificially low prices, before he finally revealed a 9.2% stake. The SEC had argued that Musk should pay a civil fine and repay the $150m he allegedly saved at the expense of unsuspecting investors. Musk called the delay inadvertent and accused the SEC of violating his free speech rights by targeting him. “Mr Musk has now been cleared of all issues related to the late filing of forms in the Twitter acquisi
May 4, 2026 → May 5, 2026
SEC alleged Musk’s late disclosure cheated Twitter investors out of $150 million. The Trump administration is letting Elon Musk pay a $1.5 million fine to settle a lawsuit that originally sought at least $150 million. If approved by a…
Read original at Ars Technica →2 updates from 2 sources over 1 day.
SEC alleged Musk’s late disclosure cheated Twitter investors out of $150 million. The Trump administration is letting Elon Musk pay a $1.5 million fine to settle a lawsuit that originally sought at least $150 million.…
Read original at Ars Technica →Musk won’t have to give up any money he allegedly saved from delaying disclosure of initial purchase of Twitter stock Sign up for the Breaking News US newsletter email Elon Musk settled the US Securities and Exchange…
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SEC alleged Musk’s late disclosure cheated Twitter investors out of $150 million. The Trump administration is letting Elon Musk pay a $1.5 million fine to settle a lawsuit that originally sought at least $150 million. If approved by a…
View source →Musk won’t have to give up any money he allegedly saved from delaying disclosure of initial purchase of Twitter stock Sign up for the Breaking News US newsletter email Elon Musk settled the US Securities and Exchange Commission’s civil…
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