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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 ...
On March 9, 2023, Musk registered X Corp. in Nevada.On the same day, Musk registered the artificial intelligence (AI) company X.AI Corp. [21] Later that month, Musk applied to merge X Holdings with X Holdings Corp. and Twitter, Inc. with X Corp. [12] In the filing, Musk revealed that X Holdings Corp. had $2 million in capital, but X Holdings Corp. would serve as the parent company for X Corp ...
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.
The business magnate Elon Musk initiated an acquisition of American social media company Twitter, Inc. on April 14, 2022, and concluded it on October 27, 2022. Musk had begun buying shares of the company in January 2022, becoming its largest shareholder by April with a 9.1 percent ownership stake.
Elon Musk has been ordered again to testify in a Securities and Exchange Commission probe about alleged non-disclosures before he announced he was buying Twitter. The last time he was ordered to...
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 ...
Business magnate Elon Musk revealed that he had bought 9.1% of Twitter for $2.64 billion on April 4, 2022. [50] [51] [52] In response, Twitter's stock rose by as much as 27% and Twitter shares experienced the largest intraday surge since Twitter's IPO in 2013. [53]
The Securities and Exchange Commission filed a lawsuit Tuesday against Elon Musk, accusing the owner of X of failing to properly disclose his purchases of Twitter stock prior to his acquisition of ...