On Might 4, 2026, the U.S. Securities and Alternate Fee filed an amended grievance so as to add the Elon Musk Revocable Belief dated July 22, 2003 (the “Revocable Belief”) as a defendant to this motion. The amended grievance 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 below the Securities Alternate Act of 1934 (“Alternate Act”).
The SEC concurrently moved for entry of a consent ultimate judgment as to the Revocable Belief. With out admitting or denying the allegations of the grievance as to the Revocable Belief, the Revocable Belief consented to entry of a ultimate judgment, topic to court docket approval, that will completely enjoin it from violating Part 13(d) of the Alternate 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 court docket enters the proposed ultimate 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 can resolve this case in its entirety.
