Judge Approves $1.5 Million Penalty for Elon Musk in SEC Case Over Twitter Stock Disclosure
A federal judge approved a $1.5 million settlement between Elon Musk and the US Securities and Exchange Commission (SEC) regarding delayed disclosure of his 2022 stock purchases in Twitter, now known as X. The ruling concluded that Musk failed to disclose crossing the 5% ownership threshold by March 24, 2022, leading to a significant jump in Twitter's share price.
Topics: Elon Musk SEC settlement stock disclosure violation Twitter (X)