HomeAutoBusinessFinanceTechEntertainmentFoodBeautyCommercial Property ManufacturingPorts & LogisticsLawEnterprise
All
HomeAutoBusinessFinanceTechEntertainmentFoodBeautyCommercial Property ManufacturingPorts & LogisticsLawEnterprise

SEC takes legal action against Elon Musk regarding acquisition of 'undervalued' Twitter shares, according to reports. 2225

2025-04-01 18:11:36
SEC sues Elon Musk over purchase of 'artificially low' Twitter shares: report

View pictures in App save up to 80% data.

FILE IMAGE: Elon Musk, CEO of SpaceX and Tesla, as well as the owner of X, is seen attending the Milken Conference 2024 Global Conference Sessions at The Beverly Hilton in Beverly Hills, California, on May 6, 2024. REUTERS/David Swanson/File Image

Elon Musk has been sued by federal regulators, who say he violated securities law by failing to properly disclose his purchase of Twitter shares, which they allege were bought at "artificially low prices," according to a report.

The Securities and Exchange Commission, or SEC, sued the MAGA tech billionaire Tuesday, CNBC reported.

Regulators raised concerns about his acquisition of Twitter shares in 2022. The SEC accused him of committing securities fraud for not revealing his ownership stake in the company and for purchasing shares at "artificially low prices," as stated in the report.

Musk famousl

0

Recommend

IRS Disbursing $2.4 Billion in Unclaimed Stimulus Funds: Find Out Who Qualifies 2224

2025-04-01 18:11:36

IRS Disbursing $2.4 Billion in Unclaimed Stimulus Funds: Find Out Who Qualifies 2224
advertisement

Violations of Minnesota's Child Labor Laws Included in Significant Penalty 2228

2025-04-01 18:11:36

Violations of Minnesota's Child Labor Laws Included in Significant Penalty 2228

In 2024, the brewery landscape in Georgia experienced its fair share of highs and lows. 2211

2025-04-01 18:11:36

In 2024, the brewery landscape in Georgia experienced its fair share of highs and lows. 2211

A man who invested $2 million in restoring a ship he purchased on Craigslist claims he has no regrets, even after selling it for a mere $20. 2218

2025-04-01 18:11:36

A man who invested $2 million in restoring a ship he purchased on Craigslist claims he has no regrets, even after selling it for a mere $20. 2218

Indulge yourself! Athleta leggings are now available for under $30 during the brand's Winter Warm-Up sale. 2213

2025-04-01 18:11:36

Indulge yourself! Athleta leggings are now available for under $30 during the brand's Winter Warm-Up sale. 2213
advertisement

Galveston County lawmaker advocates for increased regulations on shrimp served in eateries. 2223

2025-04-01 18:11:36

Galveston County lawmaker advocates for increased regulations on shrimp served in eateries. 2223

How Can You Determine If You're Considered Wealthy? The Key Figure Is $2.5 Million, Yet It's More Complex Than That.

2025-04-01 18:11:36

How Can You Determine If You're Considered Wealthy? The Key Figure Is $2.5 Million, Yet It's More Complex Than That.

Billionaire's ambitious mansion project, dubbed a 'monstrosity', may face obstacles due to a nearby fort. 2217

2025-04-01 18:11:36

Billionaire's ambitious mansion project, dubbed a 'monstrosity', may face obstacles due to a nearby fort. 2217

Elon Musk, Jeff Bezos, and Mark Zuckerberg are set to be present at Trump's inauguration. 2235

2025-04-01 18:11:36

Elon Musk, Jeff Bezos, and Mark Zuckerberg are set to be present at Trump's inauguration. 2235

Meta is reducing its workforce by 5% as Zuckerberg aims to "elevate standards." 2216

2025-04-01 18:11:36

Meta is reducing its workforce by 5% as Zuckerberg aims to "elevate standards." 2216
advertisement
to_top