Elon Musk is in talks with the Securities and Exchange Commission to settle a lawsuit filed by the regulator last year, accusing the world’s richest person of violating securities law in the run up to his Twitter buyout.
In a court filing on Tuesday, the SEC revealed that it’s “engaged in discussions of a potential resolution that would mean further proceedings might not be necessary” with Musk.
The SEC initially filed the suit in January 2025, and the case is proceeding in a federal court in Washington, D.C. A separate class action lawsuit filed by former Twitter investors against Musk is now winding its way through a federal court in San Francisco, with a jury expected to deliberate soon.
Musk, who is also CEO of Tesla
and SpaceX, purchased Twitter for $44 billion in late 2022 and changed the name to X the following year. Prior to the acquisition, he’d built up a position in the company of greater than 5%, which would’ve required disclosing his holdings to the public within 10 calendar days of reaching that threshold. He was late to file that disclosure.
