Judge Approves $1.5 Million Penalty for Elon Musk in Twitter SEC Case
The post Judge Approves $1.5 Million Penalty for Elon Musk in Twitter SEC Case appeared on BitcoinEthereumNews.com. A federal judge has approved Elon Musk’s $1.5 million settlement with the US Securities and Exchange Commission (SEC), ending the case over his delayed disclosure of Twitter stock purchases in 2022. US District Judge Sparkle Sooknanan signed off on the agreement on July 8 after warning she would not rubber-stamp the deal. Why the Judge Scrutinized the Musk SEC Settlement The SEC sued Musk in January 2025, according to the case docket. Its complaint said he crossed Twitter’s 5% ownership threshold on March 14, 2022, but disclosed his stake 11 days after the March 24 deadline. By then, Musk had quietly built a 9% position. Twitter shares jumped more than 27% once he disclosed, and the SEC claimed the delay saved him at least $150 million. Twitter (TWTR) Stock Performance in March 2022. Source: TradingView Sooknanan rejected Musk’s bid to dismiss the case in February. At a M