Last mentioned: 4d ago
Judge approves SEC settlement
U.S. District Judge Sparkle Sooknanan approves the $1.5 million consent judgment between the SEC and Elon Musk, while criticizing the settlement’s leniency and questioning whether the executive branch held Musk sufficiently accountable.
Twitter acquisition closes at $44 billion
Musk completes the purchase of Twitter and rebrands the platform as X. The company later becomes a privately held entity under Musk’s SpaceX umbrella.
Musk begins building Twitter stake
Musk accumulates Twitter shares in late March and passes the 5% ownership threshold requiring SEC disclosure within 10 days. He delays filing by 11 days, continuing to buy shares at lower prices.
A U.S. court green-lit Elon Musk’s $1.5M settlement with the SEC over late Twitter share disclosures, but the judge openly lambasted the deal’s leniency, raising profound questions about securities enforcement and equal treatment under the law.
The SEC settlement over late Twitter share disclosures sees Elon Musk pay just 1% of the $150 million he allegedly saved, raising questions about financial penalties’ impact on billionaires and the market’s perception of regulatory risk.