Summary

The SEC has sued Elon Musk, alleging he failed to disclose a timely 5% Twitter stake in 2022, allowing him to buy additional shares at “artificially low prices,” underpaying by $150M.

Musk disclosed his stake 11 days late, after purchasing over $500M in shares, leading Twitter’s stock to surge 27%.

Musk’s lawyer called the case baseless, accusing the SEC of harassment.

This follows prior SEC investigations into Musk for alleged securities fraud and insider trading related to Tesla stock sales.

Musk denies any wrongdoing.

    • @Red_October
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      512 hours ago

      I wonder how bad things have to get before we can request political asylum.

      • finley
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        110 hours ago

        If you’re LGBTQ+, you can already claim asylum. Been that way since the first Trump term.

    • The Quuuuuill
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      414 hours ago

      yeah i know. but it’s still fascinating watching every american’s desperation hail mary country getting threatened with a little bit of anschluss