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Elon Musk has agreed to respond to the U.S. Securities and Exchange Commission’s (SEC) lawsuit regarding his delayed disclosure of a major Twitter stake by June 6, according to a joint court filing on Monday.
The SEC sued Musk in January 2025, just six days before Donald Trump assumed the U.S. presidency and appointed the Tesla CEO to oversee a federal workforce reform. The regulator claims Musk failed to promptly disclose his significant Twitter share acquisition in 2022, a violation of securities law. Musk later acquired the social media platform, now known as X.
The joint filing states that Musk has agreed to waive service of process and respond to the complaint by June 6, aiming to avoid further legal disputes on this issue. The SEC had filed a return of service, but Musk challenged its validity.
This lawsuit is part of the SEC’s broader scrutiny of Musk’s dealings with publicly traded companies and his social media activity, which has previously influenced market behavior. The billionaire has had prior run-ins with the SEC, notably a 2018 settlement over misleading tweets about taking Tesla private.
Monday’s filing did not include comments from Musk, the SEC, or his legal team. However, the agreement marks a temporary resolution in the legal standoff, ensuring Musk’s formal response without additional court delays.
The case continues to draw public and investor attention, as it involves one of the world’s most influential entrepreneurs and raises ongoing concerns about transparency and compliance in financial disclosures. The June deadline could mark a pivotal moment in the SEC’s case, potentially impacting Musk’s broader business ventures.
© Reuters. Elon Musk at a March 30 rally in Green Bay, Wisconsin.
