U.S. judge will not rubber-stamp Elon Musk's $1.5 million settlement with SEC

Musk, the world's richest person, bought Twitter for $44 billion in 2022.

U.S. judge will not rubber-stamp Elon Musk's $1.5 million settlement with SEC

TL;DR

  • A federal judge is delaying the approval of a $1.5 million settlement between Elon Musk and the SEC.
  • The settlement resolves an SEC lawsuit accusing Musk of a delayed disclosure of his Twitter stake, allegedly saving him $150 million.
  • The judge wants to ensure the settlement is fair, in the public interest, and not tainted by improper collusion.
  • Musk has previously claimed the lawsuit was politically motivated.
  • The settlement does not require Musk to admit wrongdoing or return money he allegedly saved.

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