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Judge OKs $1.5 M Musk SEC Settlement, $150 M Savings

7/9/2026

Summary

Story summary

Judge Sparkle Sooknanan approved a $1.5 million SEC settlement with Elon Musk on Wednesday despite concerns.
The settlement requires a Musk-named trust to pay the penalty and binds him when acting through the trust.
The SEC said Musk’s 11-day delay in reporting his 2022 Twitter-share purchases saved $150 million.
Judge Sooknanan questioned why the SEC dropped disgorgement and whether the deal gave Musk special treatment from the U.S. President Donald Trump administration.

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Story summary

Judge Sparkle Sooknanan approved a $1.5 million SEC settlement with Elon Musk on Wednesday despite concerns.
The settlement requires a Musk-named trust to pay the penalty and binds him when acting through the trust.
The SEC said Musk’s 11-day delay in reporting his 2022 Twitter-share purchases saved $150 million.
Judge Sooknanan questioned why the SEC dropped disgorgement and whether the deal gave Musk special treatment from the U.S. President Donald Trump administration.