The US Securities and Exchange Commission sues Elon Musk saying he failed to disclose Twitter ownership in a timely manner. View on euronews

Katie Barlow discusses the Securities and Exchange Commission recently suing Elon Musk over his purchase of social media app, Twitter.

Twitter's stock price rose 27 percent once Musk belatedly disclosed his stake, the lawsuit said. "During the period that Musk was required to publicly disclose his beneficial ownership but had failed to do so, he spent more than $500 million purchasing additional shares of Twitter common stock," it said.

The SEC has sued billionaire X owner Elon Musk, alleging he failed to disclose his ownership of Twitter stock in a timely manner in 2022.

The SEC said Elon Musk had enriched himself at the expense of Twitter shareholders by not reporting a 5% stake he amassed in Twitter, now X, in time.

The Securities and Exchange Commission sued Tesla CEO Elon Musk for allegedly delaying a disclosure of a stake in Twitter—allowing him to "underpay by at least $150 million for shares he purchased after his beneficial ownership report was due.

The U.S. Securities and Exchange Commission is suing Elon Musk for allegedly failing to properly disclose his purchase of Twitter shares before buying the company, currently known as X.

The Securities and Exchange Commission on Tuesday sued Elon Musk over allegations he misled shareholders about his Twitter stock purchases, escalating the agency’s long-simmering feud with the billionaire. The SEC’s lawsuit, filed in federal court in ...

The SEC said the delay allowed Musk to continue buying Twitter shares at artificially low prices, allowing him to underpay by at least $150 million.

The has SEC said that starting in April 2022, it authorized an investigation into whether any securities laws were broken in connection with Musk’s purchases of Twitter stock and his statements and SEC filings related to the company.

Elon Musk cheated Twitter shareholders out of more than $150 million by waiting too long to disclose his growing stake in the company as he prepared a takeover bid, the US Securities and Exchange Commission claimed in a lawsuit filed days before the Trump administration takes over.

Regulators filed a lawsuit in federal court stemming from Mr. Musk’s $44 billion purchase of the social media company now called X.