By BARBARA ORTUTAY 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. Related Articles National News | Biden announces 2 new national monuments in California after wildfires scuttled previous event National News | Obesity won’t be solely defined by BMI under new plan for diagnosis by global experts National News | Lawyers for Sean ‘Diddy’ Combs say sex acts are distorted by ‘sexist and puritanical’ prosecution National News | Daily News, NY Times ask NY judge to reject OpenAI, Microsoft challenges to copyright suit National News | New Jersey to stockpile abortion pills ahead of Trump’s return to office 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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BING NEWS:
  • SEC sues Elon Musk over Twitter takeover
    The U.S. Securities and Exchange Commission, SEC, on Tuesday said it was suing tech billionaire Elon Musk, alleging he failed to disclose in a timely manner his ownership of more than 5 per cent of ...
    01/14/2025 - 7:26 pm | View Link
  • US SEC sues Elon Musk over late disclosure of Twitter stake
    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, ...
    01/14/2025 - 6:10 pm | View Link
  • SEC sues Elon Musk, saying he didn't disclose Twitter ownership on time before buying it
    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 ...
    01/14/2025 - 3:32 pm | View Link
  • US market watchdog sues Musk for hiding stakes in Twitter, buying it at 'artificial lower price'
    The US’s Securities and Exchange Commission (SEC) filed a lawsuit against Elon Musk, alleging the billionaire committed securities fraud in 2022 by failing to disclose he had amassed an active stake ...
    01/14/2025 - 2:31 pm | View Link
  • SEC sues Elon Musk, alleging failure to properly disclose Twitter ownership
    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.
    01/14/2025 - 2:07 pm | View Link
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