The U.S. Securities and Exchange Commission sued Elon Musk on Tuesday, alleging failure to timely disclose that he bought more than 5% of Twitter’s stock in 2022 before he took over the social media company.
The lawsuit, filed in a federal court in Washington, accuses Musk — tapped by Trump to co-head a so-called “Department of Government Efficiency” — of violating federal securities law because of the late disclosure.
Meta, Amazon and OpenAI’s CEOs are each directing $1-million […]
Elon Musk sued by SEC over late 2022 disclosure of Twitter stake – Los Angeles Times