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We Got This Covered
We Got This Covered
Sadik Hossain

Elon Musk blasts another major agency as ‘waste of taxpayer resources’ while trying to dismiss $150M Twitter lawsuit

Elon Musk Twitter Inc. SEC Lawsuit

Billionaire Elon Musk filed a motion on Thursday to dismiss the US Securities and Exchange Commission’s civil lawsuit over his delayed Twitter stock disclosure in 2022.

The SEC filed the lawsuit in January, claiming Musk violated federal securities law by waiting 11 days beyond the required timeframe to report his purchase of more than 5% of Twitter’s common shares. The agency alleges this delay allowed Musk to buy additional shares at artificially low prices.

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