Mark Uyeda was the sole commissioner reported to have voted against the SEC’s decision to sue Elon Musk over his disclosures of Twitter stock ownership. Ars Technica, citing Reuters, reported a 4–1 vote on March 24, 2025; the SEC declined to comment. The lawsuit itself contains allegations, not a court finding, and the SEC’s May 2026 update described a proposed resolution that still required court approval.
What the reported SEC vote was
Ars Technica reported, citing Reuters, that the commission voted 4–1 to authorize the lawsuit, with Uyeda the sole dissenter. The report said three Democratic commissioners and Republican commissioner Hester Peirce supported bringing the case. Because the SEC declined comment, the tally and individual votes should be understood as reported rather than as figures officially confirmed by the agency. Ars Technica’s March 24, 2025 report
The headline’s “current SEC chair” wording referred to Uyeda’s role when that 2025 report was published. It should not be read as a statement about who chairs the SEC in October 2026. The available reporting does not provide a verified verbatim statement from Uyeda explaining his dissent, so no reason for his vote can be established here.
Why the SEC sued Musk
The SEC filed its complaint on January 14, 2025. It alleged that Musk crossed the threshold of beneficial ownership of more than 5% of Twitter’s common stock by March 14, 2022, triggering a requirement to report that ownership within ten calendar days. The complaint said the filing deadline was March 24, 2022, and alleged that Musk did not file on time. SEC announcement of the January 2025 action SEC complaint
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Beneficial-ownership reporting is intended to give investors information about accumulating stakes that may allow an investor to influence or change control of a company. The SEC charged a violation of Exchange Act Section 13(d) and Rule 13d-1. Its original complaint sought injunctive relief, disgorgement with interest, and civil penalties; those requested remedies were not findings that Musk had violated the law.
What the complaint alleged about Musk’s stock purchases
The SEC alleged that Musk bought more than $500 million in Twitter shares from March 25 through April 1, 2022, after the filing deadline. It further alleged that, because the market did not yet have the required ownership information, he underpaid by at least $150 million for those purchases. These figures describe the agency’s allegations in the complaint, not amounts established by a court. SEC announcement of the allegations
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What the SEC’s latest located update says about the case
In a May 4, 2026 update, the SEC said it had added Musk’s revocable trust as a defendant and proposed a consent judgment requiring the trust to pay a $1.5 million civil penalty. The proposed judgment was subject to court approval. The SEC said that if approved, it would seek a stipulated dismissal of Musk personally, which would resolve the case. SEC’s May 4, 2026 update
The update described a proposed resolution, not a completed court disposition. The sources available for this article do not establish whether a court later approved the judgment or whether the action was dismissed. A definitive present-tense statement about the case’s status therefore requires checking the current U.S. District Court for the District of Columbia docket.
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