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Elon Musk Reaches Settlement with US SEC Over Delayed Disclosure of Twitter Stake, to Pay USD1.5M Civil Penalty
According to the US District Court for the District of Columbia, US billionaire Elon Musk has reached a settlement with the US Securities and Exchange Commission in a civil lawsuit...
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Elon Musk Reaches Settlement with US SEC Over Delayed Disclosure of Twitter Stake, to Pay USD1.5M Civil Penalty
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According to the US District Court for the District of Columbia, US billionaire Elon Musk has reached a settlement with the US Securities and Exchange Commission in a civil lawsuit. The case involved Musks delayed disclosure of his shareholding after acquiring shares in Twitter (now known as X) in 2022.

Under the settlement agreement, a trust established in Musks name will pay a civil penalty of USD1.5 million. Musk neither admitted to any wrongdoing nor is required to disgorge the alleged savings of USD150 million resulting from the delayed disclosure.

Related NewsEIA Crude Oil Stocks Change for May/08 in the United States is -4.306M, lower than the previous value of -2.313M. The forecast was -2.10M.
The settlement agreement is subject to approval by US District Judge Sparkle Sooknanan, who previously rejected Musks request to dismiss the case in February this year. (fc/u)

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