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With only days left in the Biden administration, the SEC sued Musk on Tuesday, alleging that he didn’t comply with requirements to notify the agency about his swelling Twitter stake in 2022 ...
As a result, the SEC alleges, Musk was able to underpay “by at least $150 million” for shares he bought after he should have disclosed his ownership of more than 5% of Twitter’s shares.
Elon Musk is being sued by the U.S. Securities and Exchange Commission over his 2022 Twitter takeover. The agency alleges ...
Musk, according to the SEC’s complaint filed in U.S. District Court in Washington, D.C, purchased more than $500 million worth of Twitter stock between March 25, 2022, and April 1, 2022 ...
According to the suit, Musk failed to properly disclose his stock position in Twitter prior to his acquisition, allowing him to continue buying shares at "artificially lower prices." ...
The US Securities and Exchange Commission (SEC) has sued billionaire Elon Musk, saying he failed to disclose his ownership of Twitter stock in a timely manner in early 2022, before buying the social ...
pressing him to him to explain why he hadn’t disclosed his stake in Twitter within the correct timeline. SEC attorneys in December asked Musk to pay more than US$200mil to settle the allegations ...
Trump has tapped Paul Atkins, a former SEC commissioner and critic of onerous penalties, to helm the agency. The regulator has been probing Musk’s investment in Twitter since 2022, pressing him ...
At market close on that day, Twitter's stock price increased 27% compared to the prior day's close. The SEC alleges that between March 22 and April 4, Musk purchased more than $500M additional ...