Elon Musk is being sued by the SEC over his Twitter takeover. What we know
Elon Musk is being sued by the U.S. Securities and Exchange Commission over his 2022 Twitter takeover. The agency alleges that the billionaire failed to disclose his ownership of Twitter stock in a timely manner, saving himself at least $150 million “at the expense of shareholders.”
The SEC alleges Elon Musk violated federal securities law by failing to disclose his more than 5% stake in Twitter on time.
Musk is accused of lowballing shareholders by waiting 11 days to disclose his ownership in Twitter, saving himself at least ...
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