SEC sues Elon Musk, says he cheated Twitter investors out of $150 million
Twitter's stock price rose 27 percent once Musk belatedly disclosed his stake, the lawsuit said. "During the period that Musk was required to publicly disclose his beneficial ownership but had failed to do so, he spent more than $500 million purchasing additional shares of Twitter common stock," it said.
SEE ALSO: Twitter shareholder Elon Musk is reportedly being investigated by the SEC. Again. However, rather than disclosing his purchase by March 24, Musk allegedly waited 11 days past the ...
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Elon Musk underpaid Twitter acquisition by $150M by not disclosing stake, SEC allegesThe Securities and Exchange Commission sued Elon Musk in federal court on Tuesday for allegedly misleading shareholders ...
The SEC accuses Elon Musk of delaying Twitter stock disclosure and buying shares at "artificially low prices," impacting shareholders.
The financial regulator wants Musk to pay a civil penalty and remedies over alleged “unjust enrichment” ahead of his 2022 ...
According to the SEC complaint, Musk didn’t follow disclosure rules, “allowing him to underpay by at least $150 million for ...
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