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The SEC alleges that Musk underpaid Twitter’s investors by more than $150 million during that period. Musk previously criticized the SEC over a settlement offer in the agency’s investigation ...
What is the complaint against Musk? 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 ...
The SEC said that at the expense of unsuspecting investors, Musk instead bought more than $500 million of Twitter shares at artificially low prices before finally revealing his purchases on April ...
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 ...
Musk started buying shares of Twitter, which he later renamed X, in early 2022. By mid-March, he'd acquired ownership of more than 5% of the company's outstanding stock, according to the SEC filing.
Musk's acquisition of Twitter was principally responsible for the development of Threads, a social media platform which closely resembles Twitter, by rival company Meta Platforms. Work began on the service in November 2022, and it was released on July 5, 2023, amidst continued backlash to changes to Twitter enacted by Musk and Yaccarino.
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 attempted to keep the deposition from being made public. [49] [50] In October 2023, the U.S. Securities and Exchange Commission (SEC) sued Musk over his refusal to testify a third time in an investigation into whether he violated federal law by purchasing Twitter stock in 2022. [51] [52] [53] Musk claimed the SEC was harassing him.