SEC sues Elon Musk, says he cheated Twitter investors out of $150 million
Twitter's stock price rose 27 percent once Musk belatedly disclosed his stake, the lawsuit said. "During the period that Musk was required to publicly disclose his beneficial ownership but had failed to do so, he spent more than $500 million purchasing additional shares of Twitter common stock," it said.
New litigation charging Musk violated disclosure rules during his 2022 acquisition of Twitter may be more about symbolism ...
The SEC sued Elon Musk in federal court on Tuesday for allegedly misleading shareholders when he bought hundreds of millions ...
The complaint estimates that Musk saved at least $150m by purchasing Twitter stock at artificially low prices.
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