Sec Accuses Elon Musk Of Securities Violation In New Suit

STR/NurPhoto via Getty ImagesThe Securities and Exchange Commission has filed suit against Elon Musk.The new suit alleges Musk violated securities law related to his purchase of Twitter shares.It's not the first time the Tesla leader has gone toe-to-toe with the SEC.The Securities and Exchange Commission has filed suit against Elon Musk, alleging he violated securities law related to his $44 billion acquisition of Twitter, according to a federal docket.The complaint alleges Musk "failed to timely file with the SEC a beneficial ownership report" disclosing his purchase of Twitter shares before he announced his ownership of the company."As a result, Musk was able to continue purchasing shares at artificially low prices, allowing him to underpay by at least $150 million for shares he purchased after his beneficial ownership report was due," the complaint reads.Musk's attorney, Alex Spiro, told Business Insider in an email that Musk "has done nothing wrong.""Today's action is an admission by the SEC that they cannot bring an actual case — because Mr.

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BING NEWS:
  • US SEC sues Elon Musk for securities violation, claims he underpaid by $150 million for Twitter shares
    The SEC complaint alleges Musk “failed to timely file a beneficial ownership report” disclosing his purchase of Twitter shares before announcing ownership ...
    01/14/2025 - 4:33 pm | View Link
  • SEC Accuses Elon Musk of Securities Law Violation Over Twitter Stake Delay
    The U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Elon Musk, accusing him of delaying the disclosure of his substantial stake in Twitter, now known as X, in 2022. The SEC ...
    01/14/2025 - 2:23 pm | View Link
  • SEC Accuses Elon Musk of Failing to Disclose Twitter Stock Purchases in 2022
    The SEC sued Elon Musk on Tuesday, accusing the X owner of failing to properly disclose his purchases of Twitter stock in 2022.
    01/14/2025 - 1:21 pm | View Link
  • Musk Accused by SEC of Bilking Twitter Investors Out of Millions
    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 US Securities and Exchange ...
    01/14/2025 - 12:16 pm | View Link
  • SEC files lawsuit against Elon Musk for securities law violation
    The SEC sues Elon Musk for securities fraud over Twitter share disclosures, alleging underpayment by at least $150 million in 2022.
    01/14/2025 - 12:07 pm | View Link
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