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VOA VIEW -- Is the opinion of "Voice of Americans", which is a private entity not affiliated in any way with the United States government or any of its agencies. The opinions expressed here, in whatever medium or format, are not necessarily the opinions of the ownership or advertisers of this web site - 0415.

     Elon Musk on Monday settled a lawsuit filed against him by the Securities and Exchange Commission for $1.5 million after the agency accused him of breaking securities laws.  The settlement was chump change.

     The SEC alleged in January 2025 that Musk cost Twitter shareholders $150 million because he delayed disclosing his purchase of more than 5% of shares in the company within the 10 days required by law.  Musk's purchase of Twitter led to a series of lawsuits because of how he purchased the company, which has since been renamed to X, which saw him become its biggest shareholder before he launched a successful hostile takeover, The Washington Post reported.

     In the settlement, which still needs to be approved by a judge, would see Musk pay a $1.5 million penalty while allowing him to admit no wrongdoing, CNBC reported.  "A trust vehicle has agreed to a small fine for being late on one filing," Musk attorney Alex Spiro said of the agreement, which will see one of his client's revocable trusts paying the fine.  Musk made a play to buy Twitter in 2022, first buy purchasing more than 5% of the company, which he did not disclose and was the reason the SEC filed suit, which allowed him to put other investors in a poor position before he launched his takeover.