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Elon Musk Agrees to Respond to SEC's $150 Million Lawsuit by June 6

The SEC accuses Musk of misleading investors in 2022 by delaying disclosure of his Twitter stock purchases, a claim he contests while criticizing the agency's actions.

U.S. President Donald Trump's adviser Elon Musk speaks during a rally in support of a conservative state Supreme Court candidate of an April 1 election in Green Bay, Wisconsin, U.S. March 30, 2025. REUTERS/Vincent Alban
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Overview

  • The SEC filed a $150 million lawsuit against Elon Musk in January 2025, alleging he misled investors by delaying disclosure of his 2022 Twitter stock purchases.
  • Musk has agreed to respond to the lawsuit by June 6, pending court approval, according to a March 31 court filing.
  • The lawsuit claims Musk's delayed disclosures allowed him to save millions of dollars during his acquisition of Twitter stock.
  • Musk contests the validity of the SEC's service of the complaint and has publicly criticized the agency, calling the lawsuit a waste of resources.
  • The agreement to set a response deadline was described in the court filing as a measure to conserve judicial resources.