Wall Street Eyes Musk’s SEC Deal and Other Legal Moves Today
Judge Sparkle Sooknanan signed off on the SEC’s settlement with Elon Musk, clearing the way for the deal over his slow disclosure of buying Twitter shares. But in her order, Sooknanan flagged concerns, saying courts aren’t just “a rubber stamp.” She pointed out the terms: a Musk trust puts up $1.5 million, while the SEC said Musk’s delay let him pocket $150 million.