SEC sues Elon Musk, alleging failure to properly disclose Twitter ownership
- The U.S. Securities and Exchange Commission has filed a lawsuit against Elon Musk for failing to disclose his ownership of more than 5% of Twitter shares in a timely manner.
- The SEC alleges that Musk's delay allowed him to save $150 million by purchasing shares at artificially low prices.
- The lawsuit seeks to have Musk return unjust profits and pay a civil fine for his violation of disclosure rules.
- In response, Musk criticized the SEC as a 'totally broken organization' and claimed they are focusing on the wrong issues.
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Coverage Details
Total News Sources0
Leaning Left53Leaning Right49Center77Last UpdatedBias Distribution43% Center
Bias Distribution
- 43% of the sources are Center
43% Center
L 30%
C 43%
R 27%
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