Technologies

SEC and Elon Musk Reach Settlement Agreement Over 2022 Twitter Acquisition Lawsuit

The SEC and Elon Musk have agreed to settle a 2022 lawsuit regarding his Twitter acquisition, with Musk’s trust paying a $1.5 million penalty. This follows a previous 2018 settlement involving Tesla and ongoing legal disputes with OpenAI.

The Securities and Exchange Commission has finalized an agreement to resolve a lawsuit filed against Elon Musk last year, which alleged that the world’s wealthiest individual breached securities regulations while preparing to acquire Twitter.

Documents submitted on Monday, bearing signatures from legal representatives of both the SEC and Musk, indicate that Musk’s revocable trust will remit a $1.5 million civil penalty to the commission. The resolution remains pending approval from the overseeing judge.

Attorney Alex Spiro, representing Musk, stated that the outcome cleared his client’s name, noting in a release that «a trust vehicle has agreed to a modest fine for a delayed filing.»

The SEC has not yet provided a comment in response to a request for statement.

Musk, who serves as CEO of Tesla and SpaceX, completed a $44 billion leveraged acquisition of Twitter in late 2022. He subsequently rebranded the platform as X, integrated it with his artificial intelligence firm, xAI, and later merged it with SpaceX earlier this year. According to Forbes, Musk’s net worth stands at approximately $790 billion.

Before acquiring Twitter, Musk accumulated a stake exceeding 5% in the publicly traded company. At this threshold, he was obligated to publicly disclose his holdings within 10 calendar days. However, Musk failed to submit the required disclosure on time.

The SEC’s initial complaint alleged that Musk’s nondisclosure allowed him to purchase shares at «artificially low prices,» placing other investors at a disadvantage. In a court filing last month, the SEC disclosed that it was «engaged in discussions of a potential resolution» with Musk regarding the matter.

In a separate class action lawsuit, a California federal court jury determined in March that Musk had misled Twitter investors prior to his acquisition. Musk’s legal team indicated they would appeal the verdict.

The Monday agreement follows a previous settlement between the regulator and Musk in 2018 concerning Tesla and Musk’s failed attempt to take the automaker public. Both Musk and Tesla were fined $20 million, and Musk temporarily stepped down as chairman of the board. A revised consent decree was signed the following year.

After that agreement, Musk repeatedly expressed disrespect for the SEC.

Meanwhile, Musk is involved in a separate legal dispute with OpenAI CEO Sam Altman. The trial — Musk v. Altman — commenced last week in a federal courthouse in Oakland, California, with Musk testifying from Tuesday through Thursday. In 2024, Musk sued Altman and OpenAI, alleging they broke their promise to maintain the artificial intelligence lab as a nonprofit.

Technologies

Verum Messenger Introduces Built-In Verum Chess

Verum Messenger has released a new update for iOS, iPadOS, and macOS, adding another feature to its growing ecosystem — Verum Chess. Users can now play chess directly inside the messenger without switching between different applications.

The new feature allows users to start a game in just a few taps while reinforcing Verum’s vision of a unified digital environment where communication and everyday services come together in a single platform.

Verum Messenger continues to evolve into a multifunctional ecosystem that combines secure chats and calls, AI tools, a built-in VPN, anonymous email, eSIM, financial services, cryptocurrency features, and offline communication. With the introduction of Verum Chess, the platform now also offers a new way for users to interact and spend time together without leaving the app.

The update is now available for iPhone, iPad, and Mac on the App Store.

Technologies

Episode 3 of the VERUM AI Mini-Series Is Now Available

Verum Messenger has released the third episode of its AI mini-series, SHADOWS, created using Verum AI.

The new episode, titled «Ghost Money,» continues the story of the conflict between a team of heroes and the Omega corporation, which seeks to take control of digital communications. This time, the focus shifts to anonymous payments and financial freedom, revealing how privacy can extend beyond messaging.

Like the previous episodes, the new release not only advances the storyline but also showcases the capabilities of the Verum ecosystem, highlighting technologies designed for secure communication and digital privacy.

The mini-series consists of seven episodes, released gradually across Verum Messenger’s social media channels.

Episode 3 is now available. Stay tuned for the next chapter.

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Technologies

Verum Finance Now Available for Mac, Expanding the Verum Ecosystem on Desktop

Verum has officially released Verum Finance for macOS, bringing its financial platform to the Mac and expanding access to the Verum ecosystem across Apple’s devices. The launch allows users to manage their finances from desktop while enjoying the same secure and seamless experience available on iPhone and iPad.

The new Mac version includes the full range of Verum Finance features, including balance management, instant transfers to other Verum users, debit card management, Apple Pay support, asset exchange, and transaction history — all optimized for the macOS experience.

Verum Finance can be used as a standalone application or alongside Verum Messenger. Users who sign in with their Verum Messenger account automatically synchronize their balances, settings, and account data across devices, ensuring a consistent experience throughout the Verum ecosystem.

The macOS release further strengthens Verum’s vision of creating an integrated digital platform where communication and financial services work together. Verum Messenger, which is also available for Mac, complements the ecosystem with encrypted messaging, voice and video calls, VPN, eSIM, anonymous email, AI-powered tools, offline communication capabilities, and cryptocurrency features.

With both Verum Messenger and Verum Finance now available across iPhone, iPad, and Mac, users can access secure communication and financial services wherever they work.

Verum Finance for Mac is available now through the Mac App Store.

Verum Finance for macOS: https://apps.apple.com/us/app/verum-finance/id6774245148
Verum Finance: https://finance.verum.im
Verum Messenger: https://verum.im