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#Elon #Musk #settle #feds #Twitter #lawsuit #pocket #changeElon Musk,Law,News,Policy,Tech,Twitter – X">Elon Musk will settle the feds’ Twitter lawsuit with pocket changeOn May 4, 2026, the U.S. Securities and Exchange Commission filed an amended complaint to add the Elon Musk Revocable Trust dated July 22, 2003 (the “Revocable Trust”) as a defendant to this action. The amended complaint alleges that the defendants failed to timely file a beneficial ownership report with the Commission after the Revocable Trust acquired beneficial ownership of more than five percent of the outstanding shares of Twitter, Inc. common stock, in violation of the beneficial ownership reporting requirements under the Securities Exchange Act of 1934 (“Exchange Act”).
The SEC simultaneously moved for entry of a consent final judgment as to the Revocable Trust. Without admitting or denying the allegations of the complaint as to the Revocable Trust, the Revocable Trust consented to entry of a final judgment, subject to court approval, that would permanently enjoin it from violating Section 13(d) of the Exchange Act and Rule 13d-1 thereunder and order it to pay a civil penalty of $1.5 million.
As explained in the consent motion, if the court enters the proposed final judgment as to the Revocable Trust as proposed by the Revocable Trust and the SEC, the SEC will file a stipulated dismissal of Elon Musk in his personal capacity, which will resolve this case in its entirety.
On May 4, 2026, the U.S. Securities and Exchange Commission filed an amended complaint to…
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#SpaceX #cuts #deal #buy #Cursor #billionAI,Business,Elon Musk,News,Science,Space,SpaceX,Tech,Twitter – X,xAI">SpaceX cuts a deal to maybe buy Cursor for $60 billion
SpaceX and Cursor are now working closely together to create the world’s best coding and knowledge work AI.
The combination of Cursor’s leading product and distribution to expert software engineers with SpaceX’s million H100 equivalent Colossus training supercomputer will allow us to build the world’s most useful models.
Cursor has also given SpaceX the right to acquire Cursor later this year for $60 billion or pay $10 billion for our work together.
SpaceX and Cursor are now working closely together to create the world’s best coding and knowledge work AI.
The combination of Cursor’s leading product and distribution to expert software engineers with SpaceX’s million H100 equivalent Colossus training supercomputer will allow us to build the world’s most useful models.
Cursor has also given SpaceX the right to acquire Cursor later this year for $60 billion or pay $10 billion for our work together.
SpaceX and Cursor are now working closely together to create the world’s best coding and…
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Jury finds Elon Musk’s ‘stupid tweets’ caused Twitter investors’ losses
A California jury determined that Elon Musk misled Twitter investors before making a $44 billion…
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X faces EU investigation over Grok’s sexualized deepfakes
X is facing an investigation from the European Commission over the sexualized deepfakes generated by…
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Musk says he’s going to open-source the new X algorithm next week
In 2023, what was then still called Twitter, open-sourced at least portions of the code…
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X accuses music publishers of ‘weaponizing’ DMCA takedowns
X is suing music publishers and their trade group, the National Music Publishers’ Association (NMPA),…
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Trump administration bars former EU official and anti-disinformation and hate researchers from US
On Tuesday, the Trump Administration followed through on a threat of retaliation targeting foreigners who…
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Grok is spreading misinformation about the Bondi Beach shooting
Grok’s track record is spotty at best. But even by the very low standards of…
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About This Account reveals the scale of X’s foreign troll problem
It’s long been known that X (and Twitter before it) is a major venue for…
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Shocker: Elon Musk spends a lot of time on X posting bad political takes
NBC News’s David Ingram analyzed a month’s worth of Elon Musk’s X posts (our condolences).…