SEC sues Elon Musk, says he cheated Twitter investors out of $150 million
The Securities and Exchange Commission sued Elon Musk yesterday over his late disclosure of a Twitter stock purchase in early 2022. Before Musk bought the whole company, he purchased a 9 percent stake in Twitter and failed to disclose it within 10 days as required under US law.
The Securities Exchange Commission has filed suit against Elon Musk, alleging that he violated securities law.
Musk is accused of lowballing shareholders by waiting 11 days to disclose his ownership in Twitter, saving himself at least ...
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