Tesla Inc (NASDAQ:TSLA) CEO Elon Musk is facing a federal probe over missing a key deadline last month to disclose a sizable stake in Twitter Inc (NYSE:TWTR), the microblogging site that he is now buying for $44 billion, The Wall Street Journal reported on Wednesday, citing people familiar with the matter.
What Happened: U.S. Securities and Exchange Commission is probing Musk’s late submission of a key form that informs investors about owning more than 5% shares in a company and could be an early indication to shareholders that a significant investor could seek to control or influence the company.
