SEC defends settlement with Musk over Twitter, saying it reflected ‘compromises’
The agency said the $1.5 million deal was reached at arm's length and would let Musk deny the allegations under a new policy.
- On Monday, the Securities and Exchange Commission defended its proposed settlement with Elon Musk regarding his Twitter share purchases, insisting the agreement is "fair, reasonable, and appropriate."
- U.S. District Judge Sparkle Sooknanan previously warned in Washington she would not simply "rubber stamp" the accord, citing concerns the deal might not adequately serve the public interest.
- Sooknanan questioned why the penalty was $1.5 million—recouping just 1 per cent of Musk's alleged $150 million in ill-gotten gains—and why the fine targeted his Revocable Trust rather than Musk personally.
- Defending the deal, the SEC maintained the settlement was "not the result of any improper collusion between the parties," arguing that binding the Revocable Trust mirrors recent agency practices.
- SEC Chair Paul Atkins has refocused the agency's priorities under Republican President Donald Trump, who previously accused the SEC of political motivation for suing Musk six days before the prior administration left the White House.
12 Articles
12 Articles
SEC defends settlement with Musk over Twitter, saying it reflected ‘compromises’
The Securities and Exchange Commission (SEC) on Monday defended its decision to settle with billionaire Elon Musk over the delayed disclosure of his stake in Twitter, now known as X, after the judge raised questions about the settlement. The SEC said in May that it had reached an agreement with Musk to pay a $1.5…
SEC defends Musk settlement over Twitter, saying it reflects ‘compromises’
The U.S. Securities and Exchange Commission defended its settlement with Elon Musk over his purchase of Twitter shares, saying it reflected “compromises” and was not tainted by collusion, after the judge overseeing the case said the accord raised “red flags.”Read MoreThe post SEC defends Musk settlement over Twitter, saying it reflects ‘compromises’ first appeared on The Who Dat Daily.The post SEC defends Musk settlement over Twitter, saying i…
SEC defends Musk settlement over Twitter, saying it reflects 'compromises'
June 1 : The U.S. Securities and Exchange Commission defended its settlement with Elon Musk over his purchase of Twitter shares, saying it reflected "compromises" and was not tainted by collusion, after the judge overseeing the case said the accord raised "red flags."In a filing in the Washington, D.C. fede
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