US Judge will not rubber-stamp SEC settlement with Elon Musk
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A U.S. federal judge has declined to approve the settlement between Elon Musk and the SEC regarding Musk's Twitter purchase. Judge Sparkle Sooknanan will review the agreement to ensure fairness and public interest. Both parties must appear in court on May 13 to discuss the settlement, which includes a $1.5 million fine for Musk without admitting wrongdoing. Musk saved approximately $150 million by delaying the disclosure of his 9.2% stake in Twitter. No comments have been made by the SEC or Musk's team regarding the judge's decision.
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