Elon Musk has agreed to pay a civic penalty in order to settle a lawsuit alleging that he intentionally cheated Twitter shareholders out of millions of dollars. The US Securities and Exchange Commission’s civil lawsuit accused the world’s richest person of waiting 11 days too long to disclose that he had passed the 5 per cent ownership threshold of Twitter during his purchase of the platform in 2022. Musk, who did not admit any wrongdoing as part of the agreement, allegedly saved around $150 million by not disclosing his initial purchase. A trust in Musk's name will pay a $1.5 million civil fine, under the settlement disclosed on Monday in the Washington, D.C., federal court. The settlement requires approval by US District Judge Sparkle Sooknanan, who in February rejected Musk's bid to dismiss the case.…