On Wednesday, a federal judge approved the U.S.
Securities and Exchange Commission's settlement with Elon Musk over his delayed disclosure of Twitter stock purchases while questioning whether the regulator treated the billionaire too favorably.
Musk's Twitter Disclosure Delay Sparks SEC Settlement A federal judge approved the SEC's $1.5 million settlement with Musk over allegations that he violated securities laws by delaying disclosure of his 2022 Twitter stock purchases, Reuters reported.
The SEC alleged Musk delayed disclosing his growing stake by 11 days during March and April 2022, allowing him to continue buying Twitter shares before the market learned of his position.
According to the regulator, the delay enabled Musk to save approximately $150 million before completing his $44 billion acquisition of Twitter later that year, which he subsequently rebranded as X.
