US SEC sues Elon Musk over late disclosure of Twitter stake
- Posted on January 15, 2025
- By Business News Today
- 1 Views
US SEC sues Elon Musk over late disclosure of Twitter stake
Elon Musk faces a lawsuit from the SEC for failing to disclose his acquisition of over 5% of Twitter's stock in March 2022 within the required timeframe, allowing him to buy shares at lower prices. The SEC seeks a civil fine and profit disgorgement, alleging Musk avoided paying at least $150 million.
