Earlier this week, the Securities and Exchange Commission filed a civil complaint in the U.S. District Court for the District of Columbia. The complaint alleges that Mr. Musk in acquiring shares of Twitter failed to file a required beneficial ownership report within the time then prescribed in Exchange Act Section 13(d) and Rule 13d-1. The SEC is seeking, among other things, disgorgement and a civil penalty. According to the SEC, Mr. Musk underpaid by at least $150 million for his purchases […]
SEC Sues Elon Musk Over Twitter Stock Disclosure Delay – The National Law Review
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