US SEC has extended timeline for Musk to respond to settlement offer in Twitter probe, source says

The US Securities and Exchange Commission (SEC) has pushed back a deadline for Elon Musk to respond to its offer to resolve an inquiry into the billionaire's $44-billion takeover of Twitter in 2022, a source familiar with the matter told Reuters.

On Thursday, Musk tweeted a copy of a letter sent by his lawyer to the chair of the US SEC saying SEC staff had given him 48 hour to agree to pay a penalty or face charges.

The SEC sent Musk a settlement offer on Tuesday with that timeline, but has since extended it to Monday after a request for more time, the source said.


An SEC spokesperson and Musk's lawyer did not respond immediately to calls for comment.