Elon Musk will settle the feds’ Twitter lawsuit with pocket change
📖 Full Retelling
Last year, the SEC sued Elon Musk over the way his acquisition of Twitter (now X, and a part of SpaceX) started, and today it announced a settlement that looks like a massive bargain, while Musk's own lawsuit against Sam Altman continues to play out . A week before the Trump administration took over, the department had alleged that by not disclosing he'd purchased more than $500 million in Twitter stock on time in the spring of 2022, Musk underpaid by at least $150 million, and harmed investors who sold their stock during that time.
Now, as reported by Reuters , the SEC has added the Elon Musk Revocable Trust to its lawsuit, which will settle …
Read the full story at The Verge.
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Last year, the SEC sued Elon Musk over the way his acquisition of Twitter (now X, and a part of SpaceX) started, and today it announced a settlement that looks like a massive bargain, while Musk's own lawsuit against Sam Altman continues to play out . A week before the Trump administration took over, the department had alleged that by not disclosing he'd purchased more than $500 million in Twitter stock on time in the spring of 2022, Musk underpaid by at least $150 million, and harmed investors who sold their stock during that time.
Now, as reported by Reuters , the SEC has added the Elon Musk Revocable Trust to its lawsuit, which will settle …
Read the full story at The Verge.
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