SEC settles with Elon Musk over Twitter dispute
Source: The Hill
05/04/26 5:58 PM ET
The Securities and Exchange Commission (SEC) has reached a settlement with Elon Musk over the delayed disclosure of his stake in Twitter, the platform now known as X, according to court documents.
Musk, who purchased the social platform for $44 billion in late 2022, will pay a $1.5 million civil penalty. The settlement resolves a lawsuit filed by the agency in January 2025, shortly before President Trump retook office.
The SEC accused the tech mogul of failing to properly disclose when his stake in then-Twitter surpassed 5 percent, as he increased his shares in the company in early 2022. He disclosed the stake in April of that year, when he owned more than 9 percent of Twitter. The agency argued this allowed him to underpay for his shares by more than $150 million.
The settlement marks the end of a years-long legal battle between Musk and the SEC, which began investigating his purchase of Twitter shares in 2022. The probe eventually turned contentious when Musk refused to sit for another deposition, and the SEC asked a judge to compel him to testify.
Read more: https://thehill.com/policy/technology/5862980-elon-musk-sec-settlement-twitter/
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Im sure he learned a lesson
✌🏻
Now he only saves $148.5 million dollars by breaking the law. Hah! See, crime doesn't pay. 