Article
Elon Musk Reaches $1.5 Million Settlement With SEC Over Twitter Stake
Elon Musk Reaches $1.5 Million Settlement With SEC Over Twitter Stake
Authored by Aldgra Fredly via The Epoch Times,
Tech billionaire Elon Musk on May 4 agreed to pay $1.5 million to resolve a Securities and Exchange Commission (SEC) lawsuit alleging he violated securities laws over the delayed disclosure of his Twitter stake.
A filing dated May 4 states that Musk’s revocable trust will pay a civil penalty of $1.5 million to the commission as part of the settlement, subject to approval by the court.
According to the filing, once the proposed settlement...
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