Home » Lawsuit against Elon Musk for delayed disclosure of Twitter stake

Lawsuit against Elon Musk for delayed disclosure of Twitter stake

The SEC alleges that Musk’s delayed disclosure allowed him to purchase more than $500 million worth of Twitter shares at prices that were artificially low.

by World Desk
0 comment 3 minutes read

In a significant legal development, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Elon Musk on Tuesday, alleging that the billionaire delayed disclosing his substantial Twitter stake in 2022. This delay, according to the SEC, violated federal securities laws and potentially disadvantaged unsuspecting investors.

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