Elon Musk and the US Securities and Exchange Commission settled the civil lawsuit the SEC filed last year, accusing the billionaire of delaying disclosures tied to the initial purchase of stock in what was formerly known as Twitter. Filings were signed by attorneys backing both the SEC and the Tesla CEO on Monday (US time). The official document further affirmed that a trust in the name of the world’s richest person will be paying a civil penalty of $1.5 million to US federal government agency as part of the settlement.The agency’s original plan of a civil fine imposition entailed compelling Musk to replay the $150 million he allegedly saved in the process, while also supposedly slipping under the radar of unsuspecting investors. Musk, on his part, hit back at SEC for overreaching, calling the disclosure delay unintentionally. He even fiercely accused the commission of violating his free speech rights. Has Elon Musk now been cleared of the issues ?
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