SEC files proposed consent judgment with the Musk trust for a $1.5 million penalty

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.