SEC, Musk seek court approval for $1.5 million Twitter stake disclosure settlement

Attorneys for the U.S. Securities and Exchange Commission and Elon Musk are set to appear before a federal judge in Washington on May 13, 2026, to defend a $1.5 million settlement resolving claims tied to Musk’s 2022 Twitter stake disclosure. The SEC sued Musk on January 14, 2025, alleging he waited too long in April 2022 to disclose that he had acquired a 5% stake in Twitter, saving about $150 million. Musk bought Twitter six months later for $44 billion. He has denied intentional wrongdoing and said the delay was inadvertent. U.S. District Judge Sparkle Sooknanan said she must review whether the settlement is fair, in the public interest and free of improper collusion or corruption before approving it. The deal does not require Musk to admit wrongdoing or surrender alleged savings, though a person familiar with the matter said it would be the largest SEC penalty for that type of violation.