Judge has 'serious misgivings' about a $1.5M fine over Elon Musk's Twitter takeover - but approves it anyway [View all]

Source: The Independent

Thursday 09 July 2026 18:27 EDT


A judge on Wednesday reluctantly approved a $1.5 million settlement in a lawsuit accusing Elon Musk of failing to immediately disclose his growing stake in what was then Twitter ahead of his eventual acquisition of the platform in 2022.

District of Columbia federal judge Sparkle Sooknanan wrote that she “significant misgivings” over the terms of the deal with the Securities and Exchange Commission. She argued that Musk’s allegedly delayed admission that he owned more than five percent of Twitter, which has been renamed X, is estimated to have saved him upwards of $150 million.

“Elon Musk, the richest person in the world with a net worth close to $1 trillion, allegedly ignored his obligation to file SEC disclosures at the expense of other investors to the tune of $150 million,” Sooknanan wrote. “That is why the SEC previously sought disgorgement from Mr. Musk in the ballpark of $150 million.”

“Whether the Executive Branch (through the SEC) has done enough to hold Mr. Musk to account for his alleged violation is, like many other issues, for our citizenry to decide at the ballot box,” she added. The Independent has contacted Musk for comment.

Read more: https://www.the-independent.com/news/world/americas/us-politics/elon-musk-sec-fine-twitter-stock-b3012242.html