Judge Delays Elon Musk SEC Settlement Over Twitter Stake
U.S. District Judge Sparkle Sooknanan declined to immediately approve a 1.5 million dollar settlement between Elon Musk and the SEC. The judge requested more information to ensure the accord is fair and in the public interest before a scheduled court appearance on May 13.
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A federal judge in the United States declined to quickly approve a $1.5 million settlement between Elon Musk and the SEC on Friday afternoon. The deal would resolve claims that Musk delayed disclosing a 5% stake in Twitter, saving $150 million before his $44 billion acquisition six months later. Musk, the world's richest person and a former adviser to Republican President Donald Trump, has claimed the lawsuit was politically motivated.
