The SEC sued Musk for failing to disclose the purchase of Twitter shares and spending $150 million less
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Jan 15
The SEC filed a lawsuit in federal court in Washington, D.C., on Tuesday against Musk for alleged securities violations, which the SEC said violated federal securities laws by buying more than 9% of Twitter's common stock in March 2022 but failing to disclose relevant information in a timely manner. After a delay of 11 days, Musk publicly disclosed his beneficial ownership in a report filed with the SEC on April 4, 2022. The delay allowed Musk to continue buying Twitter stock at an artif...
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