SEC Sues Elon Musk Over X Purchase, Says He Acquired Shares at 'Artificially Low Prices'

The Tesla boss was able to “underpay by at least $150 million” by failing to disclose he built up a 5% stake in Twitter, the SEC claims
The U.S. Securities and Exchange Commission sued Elon Musk on Tuesday, claiming he committed securities fraud by buying shares of Twitter at “artificially low prices.” Musk did this, the SEC alleges, by failing to timely disclose he had built up a position greater than 5% in the company.
The SEC’s lawsuit said that, by not disclosing he was buying up […]
SEC Sues Elon Musk Over X Purchase, Says He Acquired Shares at 'Artificially Low Prices'