• Elon Musk settled the SEC’s civil lawsuit, agreeing to pay a $1.5 million civil fine.
  • The lawsuit alleged Musk delayed disclosing his initial 5% Twitter stake in 2022, saving him an estimated $150 million.
  • Musk did not admit wrongdoing and will not have to give up the alleged savings.
  • The settlement ends over seven years of fraught battles between Musk and the regulator.
  • A former SEC aide criticized the settlement as a sign the regulator is protecting White House insiders.

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