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The US Securities and Exchange Commission has sued Elon Musk for allegedly failing to timely disclose his acquisition of more than 5 percent of Twitter shares.
The Securities and Exchange Commission has accused the Tesla boss, who bought Twitter, now known as X, in 2022, of not reporting the stock purchase he made in March of that year by the required deadline.
“As a result, Musk was able to continue to buy shares at artificially low prices, allowing him to pay less than at least $150 million for the shares he bought after his beneficial ownership report was required to be filed,” the regulator said in the complaint. filed on Tuesday.
Musk did not immediately respond to a request for comment.
