Judge orders review of Musk-SEC settlement in Twitter stake case
Updated
Updated · Bloomberg · May 8
Judge orders review of Musk-SEC settlement in Twitter stake case
13 articles · Updated · Bloomberg · May 8
US District Judge Sparkle Sooknanan set a May 13 hearing on the proposed $1.5 million deal in federal court.
She said she will assess whether the settlement is fair, adequate, reasonable and appropriate, and whether it was tainted by improper collusion or corruption.
The agreement would end an SEC lawsuit alleging Musk waited too long to disclose his growing stake in Twitter before buying the platform.
Why did the SEC settle for $1.5M when it claimed Elon Musk saved $150M?
What 'fairness' information is the judge seeking before approving Elon Musk's settlement?