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A U.S. federal judge has formally approved the settlement between the SEC and Elon Musk over delayed disclosures in the takeover of Twitter, but voiced significant concerns. The settlement places responsibility on the Elon Musk Revocable Trust and spares Musk personally; the penalty is $1.5 million. The SEC had originally sought the repayment of about $150 million to investors, who will now not be compensated; the money will instead go to the state treasury. The judge emphasized that the court has only limited legal leeway when reviewing such agreements. » More on golem.de

A U.S. federal judge has officially approved the settlement between the SEC and Elon Musk over late disclosures in the purchase of Twitter, even though she expressed serious concerns. The deal spares Musk personally and instead burdens the Elon Musk Revocable Trust; the agreed civil penalty is $1.5 million and will go to the state treasury rather than to harmed investors. The judge criticized the late introduction of the trust and called aspects of the settlement troubling, but saw little legal basis to reject the agreement. » More on finanzen.net

A U.S. district judge approved the $1.5 million settlement between the SEC and Elon Musk over his late disclosure of a 5% stake in Twitter, but expressed significant concerns and stressed that her role was limited to reviewing fairness and reasonableness. The SEC had alleged that Musk saved about $150 million by delaying the disclosure; the agreement ends the related lawsuit. Musk bought Twitter six months after the disclosure for $44 billion and had previously called the lawsuit politically motivated. » More on de.investing.com

Elon Musk and the SEC defended the settlement over Musk’s Twitter stock purchases before a federal court in Washington. Under the deal, a trust in Musk’s name will pay a $1.5 million civil penalty, while Musk insists the settlement is fair and appropriate. The SEC notes the agreement allows Musk to publicly deny the allegations; the agency had accused him of missing the statutory reporting deadline for purchases in March/April 2022 by 11 days, which Musk said was unintentional. » More on de.investing.com

A U.S. judge halted a planned settlement between the SEC and an Elon Musk trust, citing numerous “irregularities.” The agency sought to reduce an originally demanded fine from $150 million to $1.5 million and to remove Musk personally from the lawsuit, which the judge said were warning signs. In a separate California case, a jury had already concluded that Musk misled investors; potential damages there are estimated at about $2 billion. » More on spiegel.de