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Roula Khalaf, editor-in-chief of the FT, selects her favorite stories in this weekly newsletter.
The United States Securities and Exchange Commission sued Elon Musk for failing to timely disclose his acquisition of more than 5 percent of Twitter stock.
The securities watchdog accused the head of Tesla, which acquired Twitter in 2022, now known as X, of failing to timely disclose the stock purchase he had made in March of the same year.
“As a result, Musk was able to continue purchasing shares at artificially low prices, allowing him to underpay by at least $150 million for the shares he purchased after his report deadline. beneficial ownership,” the regulator alleged in a complaint filed Tuesday.
Musk did not immediately respond to a request for comment.
