Elon Musk is being sued by the U.S. Securities and Exchange Commission, claiming he didn't disclose purchases of Twitter stock in 2022 immediately, allowing him to underpay.
The charges even have an added advantage of driving a wedge between Trump’s new SEC chair, Paul Atkins, and his enforcement staff that investigated the matter if Atkins raises these issues and looks to dismiss or impose a slap-on-the-wrist penalty.
Elon Musk was sued on Tuesday by the U.S. Securities and Exchange Commission, which accused the world's richest person of waiting too long to disclose in 2022 he had amassed a large stake in Twitter,
The U.S. SEC sued Elon Musk on Tuesday, claiming he committed securities fraud by buying shares of Twitter at "artificially low prices."
After boosting Donld Trump through extreme sycophancy, turning Twitter into the red-pilled X, and dousing the once-and-future president with $239 million in campaign contributions, Musk earned himself a starring role in Trump’s second administration. But he didn’t want to be a secretary of anything; rather, he wanted DOGE.
Musk's failure to report the shares helped keep prices low, saving him $150 million, the U.S. Securities and Exchange Commission alleged.
The Securities and Exchange Commission, which is responsible for enforcing laws against market manipulation, says the SpaceX and Tesla CEO ignored the deadline.
The SEC alleges Elon Musk violated federal securities law by failing to disclose his more than 5% stake in Twitter on time.
The Security and Exchange Commission (SEC) filed a lawsuit against Elon Musk, owner of social media giant X (formerly known as Twitter), on January 14 in a federal court in Washington, D.
The has SEC said that starting in April 2022, it authorized an investigation into whether any securities laws were broken in connection with Musk’s purchases of Twitter stock and his statements and SEC filings related to the company.
Earlier this week, the Securities and Exchange Commission filed a civil complaint in the U.S. District Court for the District of Columbia.