Odaily Planet Daily News - A U.S. federal judge has dismissed the SEC's request to sanction Elon Musk, citing his absence from testifying regarding a court order related to his $44 billion acquisition of Twitter. Judge Jacqueline Scott Corley ruled that Musk would not be sanctioned for his absence during testimony on October 3 and ordered the SEC to reimburse Musk $2,923 in travel expenses. The SEC contended that Musk violated an order from May 31 and sought a stronger deterrent, but Corley deemed the matter insignificant. Musk attributed his absence on September 10 to overseeing SpaceX's Polaris Dawn mission. The SEC's investigation aims to determine whether Musk delayed disclosing his Twitter stock purchase in 2022, which could violate securities laws. Critics argue that this delay allowed Musk to acquire shares of the company at a lower price before disclosing his 9.2% stake. Musk previously acknowledged misunderstandings regarding SEC rules. He had previously reached a settlement with the SEC in 2018 over tweets related to Tesla. The case is still pending in the Northern District of California. (Bitcoin.com)

#SEC