Comment on SEC Sues Elon Musk Over Failure to Disclose Twitter Stock Ownership Before Acquisition

SEC Sues Elon Musk Over Failure to Disclose Twitter Stock Ownership Before Acquisition

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.

 

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