Judge to Review Musk, SEC Settlement Deal in Twitter Stake Case

A federal judge is asking for more information about a proposed settlement between Elon Musk and the US Securities and Exchange Commission, after the billionaire agreed to pay $1.5 million to end a lawsuit alleging he waited too long to disclose his growing stake in Twitter.

Attorneys for Musk and the SEC are set to appear before US District Judge Sparkle Sooknanan on May 13, according to the order she issued Friday. Sooknanan will consider if “the settlement is fair, adequate, reasonable and appropriate” and “whether it was tainted by improper collusion or corruption.”