Trump SEC lets Musk settle $150 million Twitter lawsuit for $1.5 million – Ars Technica

Under a proposed order filed by the SEC yesterday, the Elon Musk Revocable Trust would be “permanently restrained and enjoined from violating” Section 13(d), and the trust would be ordered to pay the fine to the SEC. The trust did not admit or deny the SEC’s allegations, court filings said. Musk lawyer Alex Spiro “said in a written statement that regulators had only fined the trust while dismissing the claims against Musk personally,” according to The Wall Street Journal. “Mr. Musk has now been cleared of all issues related to the late filing of forms in the Twitter acquisition, as we said from the outset he would be,” Spiro said. “A trust vehicle has agreed to a small fine for being late on one filing.” Jury found Musk liable for false statements US District Judge Sparkle Sooknanan rejected Musk’s motion to dismiss the case in February 2026. “In his motion, Mr. Musk does not dispute that the Complaint adequately alleges that he disregarded the disclosure requirements of Section 13(d),” Sooknanan wrote. “Rather, he attacks the constitutionality of those requirements. He argues that Section 13(d) cannot be enforced against him because it burdens his constitutional rights under the First Amendment by
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