Variety
·entertainment
·1 hour ago
Elon Musk settles SEC lawsuit over undisclosed Twitter stock purchases before acquisition
Elon Musk agreed Monday to pay $1.5 million to settle an SEC lawsuit alleging he failed to disclose Twitter stock purchases ahead of his 2022 acquisition. The settlement bars Musk's trust from violating securities disclosure rules. The SEC claimed Musk's undisclosed purchases in early 2022 cost other shareholders at least $150 million by depressing share prices.
Summary by Glance · Variety
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