The financial regulator wants Musk to pay a civil penalty and remedies over alleged “unjust enrichment” ahead of his 2022 purchase of the social network.
MORE: ElonMusk shares letter saying SEC sent him 'settlement demand' regarding his purchase of Twitter In its lawsuit filed Tuesday, the SEC accused Musk of misleading shareholders as he ...
Whether it's investigating the financials of ElonMusk's pro-Trump PAC ... of more than five percent of Twitter common stock and investment purpose,” the SEC said in a release.
"Defendant ElonMusk failed to timely file with the SEC a beneficial ownership report disclosing his acquisition of more than five percent of the outstanding shares of Twitter's common stock ...
ElonMusk was sued on Tuesday by the ... price rose more than 27% following that disclosure, the SEC said. Musk eventually purchased Twitter for $44 billion in October 2022, and renamed it X ...