A federal judge reluctantly approved a $1.5 million settlement between Elon Musk and the Trump administration despite raising numerous concerns about a deal that lets Musk get off lightly for a rule violation that allegedly harmed Twitter investors.
In an order approving the deal, US District Judge Sparkle Sooknanan said she “has significant misgivings about the settlement” between Musk and the Securities and Exchange Commission (SEC), and described “red flags” in the SEC’s decision-making. This isn’t surprising given that she previously questioned whether the deal is tainted by corruption. But there is a high legal bar for rejecting the settlement, and the circumstances do not meet “that high threshold,” she wrote yesterday.
“That means that this Court must accept the Parties’ consent judgment,” Sooknanan, a Biden appointee, wrote. “Whether the Executive Branch (through the SEC) has done enough to hold Mr. Musk to account for his alleged violation is, like many other issues, for our citizenry to decide at the ballot box.”
Â
This articles is written by : Nermeen Nabil Khear Abdelmalak
All rights reserved to : USAGOLDMIES . www.usagoldmines.com
You can Enjoy surfing our website categories and read more content in many fields you may like .
Why USAGoldMines ?
USAGoldMines is a comprehensive website offering the latest in financial, crypto, and technical news. With specialized sections for each category, it provides readers with up-to-date market insights, investment trends, and technological advancements, making it a valuable resource for investors and enthusiasts in the fast-paced financial world.