May 4, 2026 / 11:37 PM Musk reaches $1.5M settlement with SEC over 2022 Twitter buyout By Stephen Feller Elon Musk, pictured in the Oval Office at the White House in May 2025, on Monday settled a lawsuit filed by the SEC over his purchase of Twitter in 2022, which will see him pay a $1.5 million fine while admitting no wrongdoing. File photo by Francis Chung/UPI | License Photo May 4 (UPI) -- 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 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. This week in Washington President Donald Trump signs a series of executive orders in the Oval Office of the White House on Thursday. Trump signed an order to expand workers' access to retirement accounts. Trump also signed legislation ending a 75-day partial shutdown of the Department of Homeland Security after the House voted in favor of funding. Photo by Aaron Schwartz/UPI | License Photo United Airlines flight hits truck, light pole on New Jersey Turnpike May 4 (UPI) -- A United flight hit a truck and a light pole on the Jersey turnpike on approach to the airport in Newark, where it landed safely and nobody was hurt.