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(Reuters) -Elon Musk was sued on Tuesday by the U.S. Securities and Exchange Commission, which accused the world's richest person of waiting too long to disclose in 2022 he had amassed a large ...
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. ... Updated January 15, 2025 at 12:48 PM.
The US Securities and Exchange Commission sued Elon Musk on Tuesday for allegedly failing to properly disclose his ownership of X, then known as Twitter, as required by federal law, which allowed ...
[12] [13] A lawsuit filed in March 2021 alleges that Musk violated his fiduciary duty to Tesla by continuing to send "erratic" tweets in violation of the SEC settlement, and that the board is failing to control Musk. [14] [15] The case was also stayed pending resolution of the class-action lawsuit. [16] As of March 2024, the case is unresolved.
In 2018, Musk was sued by the SEC for a tweet stating that funding had been secured for potentially taking Tesla private, later settling with the SEC, with Musk steping down as Tesla chairman while remaining it's CEO. In 2023, shareholders filed a lawsuit, and a jury subsequently found Musk and Tesla not liable.
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 2018, Musk was sued by the SEC for a tweet stating that funding had been secured for potentially taking Tesla private, [85] [b] later settling with the SEC, with Musk steping down as Tesla chairman while remaining it's CEO. [89] In 2023, shareholders filed a lawsuit, [56] and a jury subsequently found Musk and Tesla not liable. [90]
The lawsuit from regulators comes five weeks after Musk openly challenged departing SEC chair Gary Gensler by posting a letter from his lawyer to Gensler on X; the letter to Gensler accused the ...