SEC defends Elon_Musk Twitter settlement

The United States — United States Securities and Exchange Commission (SEC) has defended its settlement with Elon Musk>>> regarding his delayed disclosure of X (social network)>>> share purchases in March and April 2022. The settlement, which requires a trust in Elon Musk>>>'s name to pay $1.5 million, was questioned by U.S. District Judge Sparkle L. Sooknanan>>> who raised 'red flags' about the fine amount and the decision to fine the trust instead of Elon Musk>>> directly. The SEC asserted that the settlement was a result of 'arm's length negotiations' and reflected 'compromises' from both sides, denying any collusion. The SEC also noted a policy change allowing Elon Musk>>> to publicly deny its accusations if the settlement is approved. Elon Musk>>> has previously accused the SEC of political motivation.