US SEC sues Musk for failing to disclose purchase of Twitter stock as required by regulations, missing out on $150 million
The U.S. Securities and Exchange Commission (SEC) on Tuesday sued Tesla Inc (TSLA.O) Chief Executive Officer Elon Musk for failing to disclose his 9% stake in Twitter Inc (TWTR.N) within 11 days of crossing a 5% threshold, an omission that allowed him to continue buying shares at lower prices and avoid paying $150 million more.
The SEC filed a lawsuit in federal court in Washington, D.C., accusing Musk of alleged securities violations. The SEC said Musk violated federal securities laws by purchasing more than 9% of Twitter common stock in March 2022, but failed to disclose relevant information in a timely manner. After an 11-day delay, Musk publicly disclosed his beneficial ownership in a report submitted to the SEC on April 4, 2022.
The delay allowed Musk to continue buying Twitter shares at artificially low prices, saving at least $150 million. On April 4, 2022, Twitter's stock price rose by more than 27% from the previous day's closing price. Musk's lawyer responded that Musk did nothing wrong and the lawsuit was "a farce."
免責事項:info@kdj.com
提供される情報は取引に関するアドバイスではありません。 kdj.com は、この記事で提供される情報に基づいて行われた投資に対して一切の責任を負いません。暗号通貨は変動性が高いため、十分な調査を行った上で慎重に投資することを強くお勧めします。
このウェブサイトで使用されているコンテンツが著作権を侵害していると思われる場合は、直ちに当社 (info@kdj.com) までご連絡ください。速やかに削除させていただきます。
