On Could 4, 2026, the U.S. Securities and Trade Fee filed an amended criticism so as to add the Elon Musk Revocable Belief dated July 22, 2003 (the “Revocable Belief”) as a defendant to this motion. The amended criticism alleges that the defendants did not well timed file a useful possession report with the Fee after the Revocable Belief acquired useful possession of greater than 5 p.c of the excellent shares of Twitter, Inc. frequent inventory, in violation of the useful possession reporting necessities underneath the Securities Trade Act of 1934 (“Trade Act”).
The SEC concurrently moved for entry of a consent remaining judgment as to the Revocable Belief. With out admitting or denying the allegations of the criticism as to the Revocable Belief, the Revocable Belief consented to entry of a remaining judgment, topic to courtroom approval, that may completely enjoin it from violating Part 13(d) of the Trade Act and Rule 13d-1 thereunder and order it to pay a civil penalty of $1.5 million.
As defined within the consent movement, if the courtroom enters the proposed remaining judgment as to the Revocable Belief as proposed by the Revocable Belief and the SEC, the SEC will file a stipulated dismissal of Elon Musk in his private capability, which is able to resolve this case in its entirety.
