Elon Musk settles SEC lawsuit over Twitter disclosures, $1.5 million fine imposed
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 Twitter, now known as X.
A trust in Musk’s name will pay a $1.5 million civil fine, under the settlement disclosed on Monday in the Washington, D.C., federal court.
Musk did not admit wrongdoing, and won’t have to give up any of the $150 million he allegedly saved from the delay.
