Elon Musk Settles SEC Charges Over Twitter Stake Disclosure for $1.5 Million

Elon Musk has agreed to pay $1.5 million to settle charges from the U.S. Securities and Exchange Commission (SEC) regarding his failure to properly disclose his increasing Twitter holdings in 2022. According to PANews, Musk did not admit to the allegations. The SEC had accused Musk of not timely disclosing that his Twitter stake had exceeded 5% during his acquisition of shares in 2022.