Elon Musk is being sued by the SEC over his Twitter takeover. What we know
Elon Musk is being sued by the U.S. Securities and Exchange Commission over his 2022 Twitter takeover. The agency alleges that the billionaire failed to disclose his ownership of Twitter stock in a timely manner, saving himself at least $150 million “at the expense of shareholders.”
The Securities Exchange Commission has filed suit against Elon Musk, alleging that he violated securities law.
The complaint estimates that Musk saved at least $150m by purchasing Twitter stock at artificially low prices.
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