Elon Musk settles SEC lawsuit over Twitter purchase and agrees to pay $1.5m fine
by Reuters from Technology | The Guardian on (#75E43)
Musk won't have to give up any money he allegedly saved from delaying disclosure of initial purchase of Twitter stock
Elon Musk settled the US Securities and Exchange Commission's civil lawsuit accusing the world's richest person of waiting too long in 2022 to disclose his initial purchases of stock in Twitter, now known as X.
A trust in Musk's name will pay a $1.5m civil penalty, without admitting wrongdoing. Musk won't have to give up any money he allegedly saved from the delay.
Continue reading...