Elon Musk will settle the feds’ Twitter lawsuit with pocket change
Last year, the SEC sued Elon Musk over the way his acquisition of Twitter (now X, and a part of SpaceX) started, and today it announced a settlement that looks like a massive bargain, while Musk's own lawsuit against Sam . A week before the Trump administration took over, the department alleged that...
Last year, the SEC sued Elon Musk over the way his acquisition of Twitter (now X, and a part of SpaceX) started, and today it announced a settlement that looks like a massive bargain, while Musk's own lawsuit against Sam . A week before the Trump administration took over, the department alleged that by not disclosing he'd purchased more than $500 million in Twitter stock on time, Musk underpaid by at least $150 million, and cost other investors money.
Now, as reported by Reuters, the SEC has added the Elon Musk Revocable Trust to its lawsuit, which will settle the case by paying a $1.5 million civil penalty without admitting wrongdoing or r …