According to the SEC complaint, Musk didn’t follow disclosure rules, “allowing him to underpay by at least $150 million for shares he purchased after his financial beneficial ownership report was due.
The Securities and Exchange Commission (SEC) filed a lawsuit against tech billionaire Elon Musk, accusing him of failing to disclose his ownership of Twitter stock in a timely manner in early 2022.
“Investors who sold Twitter common stock during this period did so at artificially low prices and thus suffered substantial economic harm.” Alex Spiro, a lawyer for Musk, said the action is “an ...
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