Bret Hartman
This sum is considerably less than what the SEC had demanded in its complaint filed at the beginning of 2025. At that time, the regulator had argued that Musk should return the funds he saved as a result of the late filing.
The SEC accused Musk of breaching a regulation that requires investors to reveal any purchase of a 5% or greater ownership stake in a publicly traded company within a ten-day period.
Musk reported his ownership of Twitter shares eleven days past the deadline. Based on SEC calculations, the delayed disclosure enabled the billionaire to economize more than USD 150 million on the company's takeover.
The proposed settlement between Musk and the SEC must still receive judicial approval.
source: wsj.com
The SEC accused Musk of breaching a regulation that requires investors to reveal any purchase of a 5% or greater ownership stake in a publicly traded company within a ten-day period.
Musk reported his ownership of Twitter shares eleven days past the deadline. Based on SEC calculations, the delayed disclosure enabled the billionaire to economize more than USD 150 million on the company's takeover.
The proposed settlement between Musk and the SEC must still receive judicial approval.
source: wsj.com
