The US Securities and Exchange Commission is accusing Elon Musk of cheating shareholders out of $150 million by not disclosing his secret 2022 purchase of 10% of Twitter shares, as was legally required.When this whole Elon Musk buying Twitter in a hostile takeover thing began in spring 2022, it all came to light when news broke that Musk had bought nearly 10% of all Twitter shares. That information came from regulatory filings. But Musk had been…

SFist

SEC Gets In Parting Shot at Elon Musk, Sues Him For Swindling Investors by Hiding His Twitter Shares Purchase

by Eric Lendrum   On Tuesday, the Securities and Exchange Commission (SEC) filed a lawsuit against Elon Musk, the owner of Tesla, SpaceX, and the social media platform X (formerly known as Twitter), over his alleged failure to disclose his purchase of Twitter stock in 2022. As reported by Just The News, the alleged purchase of stock by Musk led to him underpaying Twitter investors at the time of his buyout of the company in October of 2022. The …

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SEC Sues Elon Musk for Allegedly Failing to Disclose Purchase of Twitter Stocks – The Ohio Star

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It has been known for years that Elon Musk reported too late when he bought Twitter that he had exceeded an important shareholding limit. The investigations have now resulted in a lawsuit by the stock exchange regulator. The article Twitter takeover: SEC files suit against Musk for stock manipulation first appeared on ingenieur.de - job board and news portal for engineers.

Es war bereits seit Jahren bekannt, dass Elon Musk beim Kauf von Twitter zu spät meldete, dass er eine wichtige Beteiligungsgrenze überschritt. Die Ermittlungen haben nun in einer Klage der Börsenaufsicht resultiert. Der Beitrag Twitter-Übernahme: SEC erhebt Klage gegen Musk wegen Aktienmanipulation erschien zuerst auf ingenieur.de - Jobbörse und Nachrichtenportal für Ingenieure.

Twitter-Übernahme: SEC erhebt Klage gegen Musk wegen Aktienmanipulation

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Twitter takeover: SEC files suit against Musk for stock manipulation

The Star News Network

SEC Sues Elon Musk for Allegedly Failing to Disclose Purchase of Twitter Stocks | The Star News Network

The U.S. Securities and Exchange Commission has sued billionaire Elon Musk, saying he failed to disclose his ownership of Twitter stock in a timely manner in early 2022, before buying the social media site.  As a result, the SEC alleges, Musk was able to underpay “by at least $150 million” for shares he bought after he should have disclosed his ownership of more than 5% of Twitter’s shares. Musk bought Twitter in October 2022 and later renamed i…

MoneySense

Why is the SEC suing Elon Musk? - MoneySense

The U.S. Securities and Exchange Commission filed a lawsuit Tuesday accusing X owner Elon Musk of violating federal securities law by failing to disclose his stake in Twitter in early 2022. According to the SEC, Mr. Musk began buying Twitter stock with a 5% stake in the social media platform by March of that year. […] The post SEC sues Elon Musk for failing to disclose Twitter stake before purchase appeared first on Political Signal.

thepoliticalsignal.com

SEC sues Elon Musk for failing to disclose Twitter stake before purchase - Political Signal

The Securities and Exchange Commission (SEC), the Wall Street market authorities, filed a lawsuit against Elon Musk, accusing him of failing to disclose his ownership of Twitter stock on time in early 2022, AP reported.

barlamantoday.com

Wall Street Authorities Sue Elon Musk Over Delayed Disclosure of Twitter Stake

The US Securities and Exchange Commission (SEC) has initiated legal action against Elon Musk over allegations that he failed to disclose his significant ownership stake in Twitter within the required timeframe. According to the SEC complaint, Musk began acquiring shares of Twitter, now called X, in early 2022. The Tesla (NASDAQ:TSLA) leader reportedly surpassed the 5 percent ownership threshold on March 14 of that year. Under US securities law, …

futuremoneyfate.com

SEC Sues Elon Musk for Delay in Twitter Stock Disclosure

Investing News Network

The SEC has filed a lawsuit against Elon Musk, accusing him of failing to disclose his Twitter stock ownership in time before acquiring the social media platform in 2022 and later renaming it X. The delay in disclosing details of the Twitter stock Musk held allegedly allowed him to buy shares at a lower rate, saving at least $150 million. SEC Sues Elon Musk Over Delayed Twitter Stock Disclosure The Securities and Exchange Commission (SEC) filed …

SEC Gets In Parting Shot at Elon Musk, Sues Him For Swindling Investors by Hiding His Twitter Shares Purchase

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