The Securities and Exchange Commission has filed a lawsuit against Elon Musk alleging that in the lead-up to his acquisition of Twitter ... stock during this period did so at artificially low ...

When he finally disclosed his 9% stake in Twitter, the stock price jumped 27% off the previous close. A delay, the SEC says, lettered Musk to profit on artificially low prices as others ...

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.

Musk’s misrepresentations allowed him to continue purchasing shares at artificially low prices until disclosing on April 4 that he had acquired over 9% of Twitter’s stock. Later that day, Twitter’s ...

Once Musk did report his purchase, Twitter's stock price skyrocketed, pushing the value of Musk's shares up to $2.89 billion. Twitter's stock ended the day 27 percent higher than the previous day ...

The US Securities and Exchange Commission is suing Elon Musk, the owner of social media site X, alleging the world's richest man held off declaring his substantial purchase of Twitter shares in 2022.

At market close on that day, Twitter's stock price increased 27% compared to the prior day's close. The SEC alleges that between March 22 and April 4, Musk purchased more than $500M additional ...