DC judge pauses Musk's $1.5M SEC deal over Twitter disclosures
A federal judge in Washington, D.C., declined to fast-track the SEC's $1.5 million settlement with Elon Musk over his Twitter stake disclosure, saying she needs more information on fairness and how the deal was reached, and scheduled a May 13 hearing to brief arguments. The settlement resolves an SEC suit alleging Musk delayed disclosure of a 5% stake by 11 days and saved about $150 million before revealing a 9.2% stake in April 2022; Musk later bought Twitter for $44 billion. The judge will weigh fairness, public interest, and whether the deal is tainted by improper conduct, and the accord does not require an admission of wrongdoing.
