How the SEC v. Musk Twitter disclosure case unfolded
The SEC alleged that Musk failed to file a beneficial ownership report by 24 March 2022 after acquiring more than 5 percent of Twitter's common stock, in violation of Exchange Act Section 13(d) and Rule 13d-1, and that he bought more than $500 million of Twitter stock during the delay at prices that underpaid sellers by at least $150 million.
As of 30 October 2026 the SEC's 2025 case is resolved by the consent judgment approved on 8 July 2026, and no further proceedings were identified.
SEC announces settlements with Musk and Tesla
Press Release 2018-226, settlements in SEC v. Musk (S.D.N.Y. No. 18-cv-8865) and SEC v. Tesla (S.D.N.Y. No. 18-cv-8947). Musk and Tesla settled charges arising from Musk's 7 August 2018 statements that he could take Tesla private at $420 per share with funding secured. Musk agreed to step down as chairman and to be ineligible for re-election as chairman for three years, and Musk and Tesla each paid a $20 million penalty, without admitting or denying the allegations.
Deadline the SEC says Musk missed for reporting his Twitter stake
SEC files suit in federal court in Washington
Complaint, SEC v. Elon R. Musk, No. 1:25-cv-00105 (D.D.C.), announced in Litigation Release No. 26219. Sought a permanent injunction, disgorgement with prejudgment interest and civil penalties for the alleged late Section 13(d) filing.
Court denies Musk's motion to dismiss
Memorandum opinion denying motion to dismiss. Rejected Musk's arguments for dismissal, including his claim that the SEC was overreaching to punish him for criticising the agency, and held that the disclosure requirement does not violate the First Amendment.
SEC files proposed consent judgment with the Musk trust for a $1.5 million penalty
Litigation Release No. 26548, proposed consent judgment. The SEC filed an amended complaint adding the Elon Musk Revocable Trust dated July 22, 2003 as a defendant. The trust consented, without admitting or denying the allegations, to a final judgment enjoining it from violating Section 13(d) and Rule 13d-1 and imposing a $1.5 million civil penalty, subject to court approval. The release does not list disgorgement. The SEC said it would then file a stipulated dismissal of the claims against Musk personally.
Judge Sooknanan approves the consent judgment
Approval of consent judgment. Approved the consent judgment despite what the court called significant misgivings, stressing that its role is limited and that it may not step into the shoes of the SEC.
Related timelines
Musk vs OpenAI
Elon Musk co-founded OpenAI as a nonprofit in 2015 and left its board in 2018. He sued in 2024, alleging OpenAI and Sam Altman abandoned its charitable mission, and led a...
Musk vs Trump
Elon Musk went from quitting Donald Trump's advisory councils in 2017 to endorsing him in 2024 and leading the Department of Government Efficiency. The two split pub...
Tesla
Tesla was formed in Delaware in July 2003, began delivering its Roadster sports car in 2008 and went public on Nasdaq in 2010. It expanded from electric cars into solar a...
OpenAI
OpenAI was announced in December 2015 as a nonprofit artificial intelligence research lab and later added a capped-profit arm that drew billions of dollars from Microsoft...
Sources
6 records, ranked by type- 1Government document14 Jan 2025Litigation Release No. 26219, Securities and Exchange Commission v. Elon R. Musk, No. 1:25-cv-00105 (D.D.C.)US Securities and Exchange Commission · sec.gov
- 2Government document29 Sep 2018Elon Musk Settles SEC Fraud Charges, Tesla Charged With and Resolves Securities Law Charge (Press Release 2018-226)US Securities and Exchange Commission · sec.gov
- 3Government document4 May 2026Litigation Release No. 26548, Securities and Exchange Commission v. Elon Musk, et al., No. 1:25-cv-00105 (D.D.C.)US Securities and Exchange Commission · sec.gov
- 4News report15 Jan 2025SEC sues Elon Musk over Twitter disclosure (ABC News)Good Morning America · goodmorningamerica.com
- 5News report4 Feb 2026Judge rejects Musk's bid to dismiss SEC case alleging delayed Twitter share disclosure (Reuters)Insurance Journal · insurancejournal.com
- 6News report9 Jul 2026U.S. Judge Allows SEC-Musk Deal Despite 'Significant Misgivings' (Bloomberg News)CPA Practice Advisor · cpapracticeadvisor.com
Last updated 30 October 2026. Spotted an error? See corrections. Every event links to the record it comes from. Allegations are attributed to whoever made them.