SEC settles lawsuit with Elon Musk over Twitter stake disclosure, Musk to pay $1.5M penalty.

The SEC and Elon Musk have agreed to settle a lawsuit accusing Musk of violating securities law by failing to timely disclose his stake in Twitter before his 2022 purchase. Musk's revocable trust will pay a $1.5 million civil penalty as part of the settlement, which still requires court approval. The SEC claimed Musk's late disclosure allowed him to buy Twitter shares at artificially low prices, disadvantaging other investors. This follows previous legal issues Musk faced with the SEC and ongoing lawsuits related to his business activities.