India, July 9 -- A U.S. federal judge has approved the Securities and Exchange Commission's settlement with Elon Musk over claims that he disclosed his Twitter share purchases too late in 2022 though she signaled the deal may have let him off too easily.
U.S. District Judge Sparkle Sooknanan said her role was limited to deciding whether the agreement met basic standards of fairness and reasonableness. Even so, she wrote that she had "significant misgivings," questioning whether the SEC had done enough to hold Musk accountable.
Under the settlement, a trust in Musk's name will pay a $1.5 million civil penalty to resolve the SEC's allegations that he waited 11 days too long to disclose his growing stake in Twitter. The SEC said the delay al...