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00:02A federal judge approved the SEC's settlement with Elon Musk over his purchase of Twitter
00:06shares while questioning whether the agreement let Musk off too easily, according to Reuters.
00:11U.S. District Judge Sparkle Sukhnenen said her role was limited to assessing whether
00:15the settlement met minimum standards of fairness and reasonableness.
00:19She questioned whether the SEC's agreement let him off too easily.
00:23The settlement requires a trust in Musk's name to pay $1.5 million to resolve SEC claims
00:29that Musk took 11 days too long in 2022 to disclose early purchases of Twitter shares.
00:35The SEC said the delay saved Musk $150 million by allowing him to buy shares before investors caught on.
00:42Musk has said the delay was inadvertent. Sukhnenen questioned why the SEC dropped its demand for
00:48Musk to give up alleged ill-gotten gains tied to the case. She also questioned why the SEC settled
00:54with Musk's trust, which allowed Musk to say publicly that he had been cleared of wrongdoing.
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