A judge on Wednesday reluctantly approved a $1.5 million settlement in a lawsuit accusing Elon Musk of failing to immediately disclose his growing stake in what was then Twitter ahead of his eventual acquisition of the platform in 2022.
District of Columbia federal judge Sparkle Sooknanan wrote that she “significant misgivings” over the terms of the deal with the Securities and Exchange Commission. She argued that Musk’s allegedly delayed admission that he owned more than five percent of Twitter, which has been renamed X, is estimated to have saved him upwards of $150 million.
