SEC Gives Musk Until Aug. 29 to Answer Twitter Stake Suit

The U.S. Securities and Exchange Commission and Elon Musk have agreed to give the billionaire six additional weeks, until Aug. 29, 2025, to respond to the agency’s civil lawsuit accusing him of belatedly disclosing his large stake in Twitter. The new timetable was set out in a joint filing in federal court in Washington, D.C., superseding a July 18 deadline that had itself replaced an earlier June cut-off. Filed in January, the SEC complaint contends that Musk waited 11 days beyond the regulatory window in 2022 before revealing that he had crossed the 5% ownership threshold in Twitter, allowing him to buy more than $500 million worth of shares at artificially low prices. The regulator says the delayed disclosure let Musk underpay by at least $150 million and is seeking disgorgement of alleged ill-gotten gains alongside a civil penalty. Musk, who took Twitter private for $44 billion in 2022 and later rebranded it X, has denied wrongdoing and called the suit baseless. The latest extension—second since the case was filed—was described by both parties as a measure to conserve judicial resources while the billionaire prepares his defense.