PANews reported on May 5 that, according to Cointelegraph, Elon Musk has agreed to pay $1.5 million to settle allegations by the U.S. Securities and Exchange Commission (SEC) that he failed to properly disclose his increasing stake in Twitter in 2022.
Musk has reportedly not admitted to the allegations. Previously, the SEC accused Musk of failing to disclose, as required, that his stake in Twitter had exceeded 5% during the 2022 acquisition of the company's shares.
