Judge Approves $1.5 Million SEC-Musk Settlement Over Twitter Investment
The opinion says whether it's fair is ‘for our citizenry to decide at the ballot box.’
In 2022, the US Securities and Exchange Commission under former chair Gary Gensler brought a case against Elon Musk regarding his acquisition of Twitter. The regulator questioned Musk's 11-day delay in revealing his previous investments in the social media platform, arguing that the wait allowed the entrepreneur to increase the size of his share before making the purchase, saving him as much as $150 million at the expense of the platform's shareholders.
Following a change in leadership at both the SEC and the White House, the agency reached a settlement earlier this year that saw Musk pay a civil penalty of $1.5 million while admitting no wrongdoing. Having the already obscenely wealthy Musk pay essentially pocket change struck many as insufficient. But today, Reutersreported that the protracted drama officially ends. US District Judge...
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