All posts tagged: disclosures

Elon Musk settles SEC lawsuit over Twitter disclosures, .5 million fine imposed

Elon Musk settles SEC lawsuit over Twitter disclosures, $1.5 million fine imposed

Published by Sam Flores

WASHINGTON/NEW YORK, May 4 : Elon Musk settled the U.S. Securities and Exchange Commission’s civil lawsuit accusing the world’s richest person of waiting too long in 2022 to disclose his initial purchases of Twitter, now known as X. A trust in Musk’s name will pay a $1.5 million civil penalty, without admitting wrongdoing. Musk won’t have to give up any money he allegedly saved from the delay. The settlement was disclosed on Monday in the Washington, D.C., federal court. In its January 2025 lawsuit, the SEC said Musk’s 11-day delay in revealing his initial 5 per cent Twitter stake in late March and early April 2022 let him buy more than $500 million of shares at artificially low prices, before he finally revealed a 9.2 per cent stake. The SEC had argued that Musk should pay a civil fine and repay the $150 million he allegedly saved at the expense of unsuspecting investors. Musk called the delay inadvertent, and accused the SEC of violating his free speech rights by targeting him. “Mr. Musk has now been cleared of all …

Elizabeth Warren attacks Kevin Warsh over financial disclosures

Elizabeth Warren attacks Kevin Warsh over financial disclosures

Published by Sam Flores

Senator Elizabeth Warren speaks at a No Kings Day event on the Boston Common on March 28, 2026. Finn Gomez | Boston Globe | Getty Images Kevin Warsh’s newly released financial disclosures shed light on the Federal Reserve chair nominee’s vast wealth, but also raise questions about parts of his holdings that aren’t fully revealed in the paperwork. That could be a challenge for Warsh as he seeks to overcome a legacy of ethics scandals under the current chair, Jerome Powell. Warsh in filings to the Senate Tuesday disclosed owning assets worth roughly $135 million to $226 million. That is in addition to what Forbes estimates as a $1.9 billion fortune held by his wife, Jane Lauder, granddaughter of the cosmetics founder Estée Lauder. But Warsh’s disclosures don’t reveal everything about his wealth. For one, the forms ask only for reporting values in broad ranges, making precise calculations of his wealth impossible. Two individual assets are each listed as simply being worth over $50 million. Their worth could be just above that threshold, or far …

AI Agents Are Getting Better. Their Safety Disclosures Aren’t

AI Agents Are Getting Better. Their Safety Disclosures Aren’t

Published by skeptic

AI agents are certainly having a moment. Between the recent virality of OpenClaw, Moltbook and OpenAI planning to take its agent features to the next level, it may just be the year of the agent. Why? Well, they can plan, write code, browse the web and execute multistep tasks with little to no supervision. Some even promise to manage your workflow. Others coordinate with tools and systems across your desktop.  The appeal is obvious. These systems do not just respond. They act — for you and on your behalf. But when researchers behind the MIT AI Agent Index cataloged 67 deployed agentic systems, they found something unsettling. Developers are eager to describe what their agents can do. They are far less eager to describe whether these agents are safe. “Leading AI developers and startups are increasingly deploying agentic AI systems that can plan and execute complex tasks with limited human involvement,” the researchers wrote in the paper. “However, there is currently no structured framework for documenting … safety features of agentic systems.” That gap shows up clearly …

Airlines Win Challenge to Appeals Court Ruling on Consumer Fee Disclosures

Airlines Win Challenge to Appeals Court Ruling on Consumer Fee Disclosures

Published by Sam Flores

WASHINGTON, Feb 3 (Reuters) – A federal appeals ‌court ​on Tuesday agreed to set ‌aside its ruling last year that the U.S. Transportation Department ​had authority to require airlines to fully disclose fees upfront when passengers book flights. The 5th U.S. ‍Circuit Court of Appeals in ​New Orleans in an en banc decision vacated the USDOT rule and reversed a ​January 2025 ⁠decision by a three-judge panel, which had sent the rule back to USDOT but had blocked its enforcement. Major airlines challenged a consumer-friendly rule issued in April 2024 during the Biden administration, which required airlines and ticket agents to disclose “ancillary fees” such as baggage ‌charges during the booking process arguing federal law gave the Transportation Department no power ​to ‌issue such rules. The appeals ‍court last ⁠year said USDOT had authority to write rules on unfair or deceptive practices by airlines but said the department had not complied with procedural rules and sent it back to USDOT for review.  The Trump administration has taken other steps to abandon Biden administration airline consumer …

Paramount Loses Bid to Fast Track WBD Disclosures on Netflix Deal

Paramount Loses Bid to Fast Track WBD Disclosures on Netflix Deal

Published by Daniella Wilson

A Delaware judge has turned down Paramount‘s bid to fast track a lawsuit looking to force Warner Bros. Discovery into giving shareholders more information about how it chose Netflix’s $82.7 billion offer. The judge, Vice Chancellor Morgan Zurn of the Delaware Chancery Court, on Thursday rejected arguments that Paramount would suffer “irreparable harm” if the details aren’t disclosed. Amid plans to launch a proxy fight for Warner Bros. Discovery, Paramount chief executive David Ellison is betting that cornering the company into showing its work will help his case. Warner Bros. Discovery has rejected Paramount’s $108.7 billion hostile offer. It’s widely expected that Netflix, which proposed a cash-and-stock offer valued lower than Paramount’s, will amend its bid to expedite the transaction as institutional investors take sides in the sale. On Monday, Paramount filed a breach of fiduciary duty lawsuit against Warner Bros. Discovery’s board. It moved to expedite the case before its offer expires on Jan. 21. In a statement, Paramount said that the ruling “does not pertain to the merits” of its complaint. “WBD shareholders …

Mirror publisher seeks disclosures to prove hacking claims are out of time

Mirror publisher seeks disclosures to prove hacking claims are out of time

Published by Sam Flores

Daily Mirror front page on 28 November 2023 Mirror publisher Reach is hoping that 61 outstanding privacy claims relating to allegations of illegal newsgathering can be thrown out under the six-year time limit rule. Prince Harry was awarded £140,000 in damages after finding that 15 Mirror group articles about him published in the early 2000s were a result of phone-hacking. But two other claims filed alongside Harry were thrown out on grounds of time limitation. Some 61 further claims relating to allegations of phone-hacking from various claimants remain active and could yet go to trial. Now Reach subsidiary MGN Ltd is seeking disclosure of correspondence involving legal researchers Dan Waddell, Graham Johnson and Evan Harris to prove claimants knew about the allegations complained about more than six years before starting their claims. The trio have worked extensively on litigation against the publishers of the Mirror, Sun and Mail titles. The Mail has successfully forced the disclosure of correspondence between claimants and the legal research team which appear to support the publisher’s assertion that claims are …