Elon Musk, SEC in D.C. hearing over delayed Twitter disclosure
Elon Musk and the Securities and Exchange Commission are set to face off in Washington, D.C. on Wednesday, May 13, 2026.
The issue? Musk waited too long to tell everyone he bought a big chunk (5%) of Twitter back in April 2022.
The SEC says this delay let him pocket $150 million, and he later went on to buy Twitter for $44 billion.
Now, they're looking at a $1.5 million settlement.
Judge Sparkle Sooknanan to review settlement
The SEC sued Musk just before President Biden left office, but the deal on the table is pretty lenient: Musk won't have to admit he did anything wrong or pay back those alleged savings.
Judge Sparkle Sooknanan will decide if this agreement is fair and legitimate.
Elon Musk denies wrongdoing
Musk insists he didn't mean to break any rules; he says it was simply a mistake.
During Wednesday's hearing, both sides will likely lay out their plans for next steps in court.