SEC sues Elon Musk, says he cheated Twitter investors out of $150 million
Twitter's stock price rose 27 percent once Musk belatedly disclosed his stake, the lawsuit said. "During the period that Musk was required to publicly disclose his beneficial ownership but had failed to do so, he spent more than $500 million purchasing additional shares of Twitter common stock," it said.
Musk is accused of lowballing shareholders by waiting 11 days to disclose his ownership in Twitter, saving himself at least ...
The Securities Exchange Commission has filed suit against Elon Musk, alleging that he violated securities law.
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