The US Securities and Exchange Commission sues Elon Musk saying he failed to disclose Twitter ownership in a timely manner. View on euronews

Elon Musk is being sued by the U.S. Securities and Exchange Commission, claiming he didn't disclose purchases of Twitter stock in 2022 immediately, allowing him to underpay.

The has SEC said that starting in April 2022, it authorized an investigation into whether any securities laws were broken in connection with Musk’s purchases of Twitter stock and his statements and SEC filings related to the company.

The U.S. Securities and Exchange Commission is suing Elon Musk for allegedly failing to properly disclose his purchase of Twitter shares before buying the company, currently known as X.

Regulators filed a lawsuit in federal court stemming from Mr. Musk’s $44 billion purchase of the social media company now called X.

The Securities and Exchange Commission, which is responsible for enforcing laws against market manipulation, says the SpaceX and Tesla CEO ignored the deadline.

Musk, who bought Twitter in October 2022 and renamed it X, had started amassing shares earlier that year. His ownership amounted to more than 5% by March, requiring him to file a disclosure report. The SEC says the report was 11 days late, allowing Musk to "underpay by at least $150 million” for shares purchased before he disclosed his stake.

The Securities and Exchange Commission (SEC) has sued tech billionaire Elon Musk, alleging he committed securities fraud by failing to disclose his ownership of Twitter. According to the SEC

WASHINGTON — Elon Musk cheated Twitter shareholders out of more than $150 million by waiting too long to disclose his growing stake in the company as he prepared a takeover bid, the U.S. Securities and Exchange Commission claimed in a lawsuit filed days ...

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 stake in Twitter,

The has SEC said that starting in April 2022, it authorized an investigation into whether any securities laws were broken in connection with Musk’s purchases of Twitter stock and his statements and SEC filings related to the company. Before it filed the ...

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