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The SEC alleged that Musk violated federal securities laws when he amassed more than $500 million in shares of Twitter -- later renamed X -- without properly disclosing his stake in the company ...
Musk, according to the SEC’s complaint filed in U.S. District Court in Washington, D.C, purchased more than $500 million worth of Twitter stock between March 25, 2022, and April 1, 2022, and ...
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 ...
In a complaint filed in Washington, D.C. federal court, the SEC said Musk violated federal securities law by waiting 11 days too long to disclose his initial purchase of 5% of Twitter's common shares.
Twitter's board publicly and unanimously accepted the buyout offer for $44 billion, and Twitter was to become a private company once the transaction was completed sometime in 2022. [ 40 ] [ 41 ] Negotiations with Musk were led by the board's transaction committee, composed of Taylor, Martha Lane Fox , and Patrick Pichette . [ 42 ]
Before it filed the lawsuit, the SEC went to court in an attempt to compel Musk to testify as part of an investigation into his purchase of Twitter. The SEC's current chair, Gary Gensler, plans to step down from his post on Jan. 20 and it is not clear if the new administration will continue the lawsuit. 01/14/2025 19:22 -0500
The SEC has sued billionaire X owner Elon Musk, alleging he failed to disclose his ownership of Twitter stock in a timely manner in 2022.
The U.S. Securities and Exchange Commission has sued billionaire Elon Musk, saying he failed to disclose his ownership of Twitter stock in a timely manner in early 2022, before buying the social ...