According to Odaily Planet Daily, a US federal judge rejected the SEC's request for sanctions against Elon Musk because he was absent from court-ordered testimony related to the $44 billion acquisition of Twitter.
Judge Jacqueline Scott Corley ruled that Musk did not need sanctions when he testified on Oct. 3 and reimbursed the SEC $2,923 in travel expenses. The SEC argued that Musk violated the May 31 order.
Musk attributed his absence on September 10 to overseeing SpaceX's Polaris Dawn mission. The SEC investigation seeks to determine whether Musk delayed disclosing his purchase of Twitter shares in 2022.
Critics say the delay allowed Musk, who has previously admitted to misunderstanding SEC rules, to buy shares in the company at a low price before disclosing his 9.2% stake.