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The Securities and Exchange Commission (SEC) has sued tech billionaire Elon Musk, alleging he committed securities fraud by failing to disclose his ownership of Twitter. According to the SEC ...
By withholding those facts from shareholders, the SEC alleged, Musk committed securities fraud. Musk refiled his disclosure as an active investor the next day on April 5.
The U.S. Securities and Exchange Commission sued Elon Musk on Tuesday, alleging failure to timely disclose that he bought more than 5% of Twitter's stock in 2022 before he took over the social ...
The Securities and Exchange Commission sued Elon Musk in federal court on Tuesday for allegedly misleading shareholders when he bought hundreds of millions of dollars worth of Twitter stock in ...
In a complaint filed in Washington, D.C., federal court, the SEC said the delay allowed Musk to continue buying Twitter shares at artificially low prices, allowing him to underpay by at least $150 ...
In September 2018, the U.S. Securities and Exchange Commission (SEC) charged Musk with securities fraud for his "false and misleading" statements after tweeting that he had "funding secured" to take Tesla private. [14] The SEC also charged Tesla with failing to have adequate controls and procedures in place regarding Musk's tweets. [15]
Musk's announcement came as a surprise to shareholders, and consequently the company's stock price rose by almost 11 percent; 17 days later, Musk said the proposal was dead. [149] DOJ investigators requested company documents in September related to Musk's announcement, and the company complied with the requests. [150]
Musk and Gensler have also clashed over regulation of crypto currencies, of which Musk is a vocal advocate, while Gensler has described as securities that should be under the authority of the SEC.