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The US Securities and Exchange Commission sued Musk: Failure to disclose the purchase of Twitter shares, less than $150 million
The Securities and Exchange Commission on Tuesday filed a lawsuit in federal court in Washington, D.C., against Musk for alleged securities violations. The SEC said Musk violated federal securities laws by purchasing more than 9% of Twitter's common stock in March 2022 but failing to disclose the relevant information in a timely manner. The delay was 11 days before Musk publicly disclosed his beneficial ownership in a report to the SEC on April 4, 2022. The delay allowed Musk to continue to pay ...
2025-01-14 23:33:00
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