Tech billionaire Elon Musk has agreed to pay $1.5 million to settle a civil lawsuit filed by the U.S. Securities and Exchange Commission (SEC) over allegations related to his delayed disclosure of Twitter share purchases in 2022, according to court filings and official statements.

The case focused on Musk’s acquisition of a significant stake in Twitter (now rebranded as X), where regulators alleged he failed to disclose his ownership position within the required timeframe. The SEC argued that this delay allowed him to continue purchasing shares at lower prices before the market reacted to his involvement.

Under the settlement, a trust linked to Musk will pay the $1.5 million civil penalty, without admitting wrongdoing or being required to disgorge any alleged profits. The agreement was filed in a Washington, D.C. federal court and is subject to final judicial approval.

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The SEC’s original complaint claimed Musk exceeded the 5% ownership disclosure threshold in 2022 but delayed reporting it by 11 days. During that period, the regulator said he acquired additional shares worth hundreds of millions of dollars before the stock price rose sharply after disclosure became public.

Musk had previously argued that the delay was unintentional and denied any intent to mislead investors. His legal team also maintained that the SEC’s allegations overstated the financial impact and questioned the regulator’s interpretation of disclosure timing rules.

The settlement brings a partial end to a long-running regulatory dispute tied to Musk’s takeover of Twitter, which he later acquired for $44 billion and transformed into X. However, he remains involved in other legal challenges related to the acquisition and investor claims linked to the deal.

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