Shares of Meta Platforms slid nearly 6% in the week following Zuckerberg’s Jan. 7 announcement that he was ending the company’s internal fact-checking program and replacing it with a user-based system to flag problematic content.

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.

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.

According to the SEC complaint, Musk didn’t follow disclosure rules, “allowing him to underpay by at least $150 million for shares he purchased after his financial beneficial ownership report was due.

The SEC sued Elon Musk, accusing the X owner of failing to properly disclose his purchases of Twitter stock in 2022.

Elon Musk was sued on Tuesday by the U.S. Securities and Exchange Commission, which accused the world's richest person of waiting too long to disclose in 2022 he had amassed a large stake in Twitter,

Musk bought Twitter shares at 'artificially low prices' and saved $150 million because he reported his Twitter stake late, the SEC alleges.

Mozi co-founders Ev Williams, left, and Molly DeWolf Swenson. (Margo Moritz Photo) Bucking the conventional wisdom around most new products, Molly DeWolf

The SEC alleges Musk failed to disclose his ownership of Twitter stock before buying the social media site in 2022.

The lawsuit accused Musk of misleading shareholders by not reporting his 2022 investment in the social-media company in a timely manner.

T he social network Bluesky has been growing at a rapid rate ever since the 2024 US presidential election concluded. The site has added over 12 million users since the November el