A federal judge questioned the propriety of the U.S. Securities and Exchange Commission’s $1.5 million settlement with Elon Musk, in a case alleging that the world’s richest person saved $150 million by allegedly skirting stock disclosure rules at public market shareholders’ expense.
But despite what she called “serious misgivings” and “red flags,” Washington, D.C. district court judge Sparkle L. Sooknanan signed off on a settlement whose terms even the SEC has admitted are unprecedented.
