SEC Press press_release 65 KB 1,641 chars

SEC v. ELON MUSK, No. 1:25-cv-00105, District of Columbia — Press Release

raw: Elon Musk and Elon Musk Revocable Trust Dated July 22, 2003

Elon Musk and Elon Musk Revocable Trust Dated July 22, 2003, No. 1:25-cv-00105 (D.D.C.)

Caption: SEC v. ELON MUSK

summary

The Elon Musk Revocable Trust agreed to a $1.5 million civil penalty and permanent injunction for failing to file a timely beneficial ownership report after acquiring over 5% of Twitter, Inc. stock, leading to dismissal of all claims against Elon Musk personally, pending court approval.

paragraph

The U.S. Securities and Exchange Commission accused the Elon Musk Revocable Trust of violating Section 13(d) of the Securities Exchange Act of 1934 by failing to file a Schedule 13D after acquiring more than 5% of Twitter, Inc. common stock. Without admitting or denying the allegations, the Trust consented to a proposed final judgment imposing a $1.5 million civil penalty and a permanent injunction against future violations of beneficial ownership reporting rules. In exchange, the SEC agreed to dismiss Elon Musk in his personal capacity, resolving the entire case pending court approval of the judgment.

narrative

On May 4, 2026, the U.S. Securities and Exchange Commission filed an amended complaint adding the Elon Musk Revocable Trust dated July 22, 2003, as a defendant for failing to timely file a beneficial ownership report under Section 13(d) of the Securities Exchange Act of 1934 after acquiring over 5% of Twitter, Inc. common stock. The Trust consented to a proposed final judgment without admitting or denying the allegations, agreeing to a permanent injunction prohibiting future violations of Rule 13d-1 and a $1.5 million civil penalty. The SEC simultaneously moved for entry of this judgment and stipulated that, if approved by the court, it would dismiss Elon Musk personally from the case, thereby resolving all claims against him. The settlement reflects the SEC’s enforcement of beneficial ownership disclosure requirements, which are designed to ensure transparency in significant equity stakes. The Trust’s consent to the judgment avoids litigation while still imposing significant financial and compliance consequences. Court approval remains a necessary condition for the judgment to take effect and for Musk’s dismissal to be finalized. This resolution underscores the SEC’s focus on holding entities accountable for reporting violations, even when individual liability is waived as part of a broader settlement.

Enriched metadata

Scheme: unregistered-securities (100%)
Court: District of Columbia
Case No.: 1:25-cv-00105
Outcome: settled
Civil penalty: $1,500,000

Classified unregistered-securities(confidence 100%). EDGAR detection: forms Form D/S-1· recall 41% / precision 30%. detection rule →

Extracted insights

Dollar amounts 1

$1.50M $1.5 million $1M–$10M

Entities 8

person amended complaint
company consent final judgment as to the revocable trust
person consent motion
company elon musk revocable trust
person final judgment
company revocable trust
agency Securities and Exchange Commission
person stipulated dismissal

Triples 12

U.S. Securities and Exchange Commission Filed Amended Complaint
U.S. Securities and Exchange Commission Added Elon Musk Revocable Trust
Amended Complaint Alleges Defendants failed to timely file a beneficial ownership report
Revocable Trust Acquired Beneficial ownership of more than five percent of the outstanding shares of Twitter, Inc. common stock
Revocable Trust Violated Beneficial ownership reporting requirements under the Securities Exchange Act of 1934
SEC Moved for entry Consent final judgment as to the Revocable Trust
Revocable Trust Consented to entry Final judgment
Final judgment Would permanently enjoin Revocable Trust from violating Section 13(d) of the Exchange Act and Rule 13d-1 thereunder
Final judgment Would order Revocable Trust to pay a civil penalty of $1.5 million
Consent motion Explained 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
SEC Will file Stipulated dismissal of Elon Musk in his personal capacity
Stipulated dismissal Will resolve This case in its entirety

View original SEC press releasesec.gov

Extracted body text (1,641c)

U.S. SECURITIES AND EXCHANGE COMMISSIONLitigation Release No. 26548 / May 4, 2026Securities and Exchange Commission v. Elon Musk, et al., No. 1:25-cv-00105 (D.D.C. filed Jan. 14, 2025)SEC Amends Complaint and Files Proposed Final Judgment Against Trust for Violating the Beneficial Ownership Reporting Requirements of the Federal Securities LawsOn 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.

OCR text (1,641c · plain-text · 99% conf)