Elon Musk Settles SEC Lawsuit Over Twitter Disclosures. Trust Will Pay $1.5 Million Penalty
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Elon Musk and the U.S. Securities and Exchange Commission settled the regulator’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.
The settlement calls for the Elon Musk Revocable Trust to pay a $1.5 million civil penalty, with no admission of wrongdoing. It was disclosed on Monday in the Washington, D.C., federal court.
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(Reporting by Jonathan Stempel in New York)
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