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The lawsuit from the SEC against Musk is essentially about him not disclosing his purchase of a large portion of Twitter’s stock in the months before he announced his intention to buy the company.
Elon Musk's $44 billion purchase of Twitter has been followed by a series of chaotic events for the social media platform.
Elon Musk to testify in SEC probe over Twitter stock disclosures. May 30, 2024 at 10:43 AM. (Reuters) - Elon Musk has settled his latest legal fight with the U.S. Securities and Exchange ...
X Corp. X Corp. is an American technology company established by Elon Musk in 2023 as the successor to Twitter, Inc. It is a wholly owned subsidiary of X Holdings Corp., which is itself mostly owned by Musk. The company owns the social networking service X (formerly Twitter), and has announced plans to use it as a base for other offerings.
X.com was an American online bank founded by Ed Ho, Harris Fricker, Elon Musk, and Christopher Payne in 1999 in Palo Alto, California. In 2000, it merged with competitor Confinity and in 2001, the merged company changed its name to PayPal. Starting in 2023, the x.com internet domain name began to be used for Twitter which was acquired by Musk in 2022 and subsequently rebranded to X .
The investigation, which escalates a long-running feud between the SEC and Musk, concerns whether Musk broke federal securities laws in 2022 when he bought stock in Twitter, which Musk renamed X ...
Elon Muskcompleted his acquisition of Twitterin October 2022; Musk acted as CEOof Twitteruntil June 2023 when he was succeeded by Linda Yaccarino. Under Musk, Twitter was rebranded to X. It is one of the top social mediaplatforms and the seventh-most visited website in the world. [3][4]Users can share posts containing text messages, images, and videos and interact with other users' content ...
Musk offered to buy Twitter for $54.20 per share; Twitter responded by creating a new class of preferred stock priced at $420. Not surprisingly, buying a publicly traded company is more ...