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The Independent UK

Business

Martyn Landi

Elon Musk sued by US markets regulator over Twitter stake disclosure

Elon Musk Twitter Inc. United States SEC X Donald Trump Tesla Inc.

Elon Musk responded to the SEC’s actions in a post on his X platform (Yui Mok/PA) - (PA Archive)

The US markets regulator has filed a lawsuit against Elon Musk, alleging he failed to properly disclose the stake he had amassed in Twitter before buying the platform, allowing him to buy shares at lower prices.

The Securities and Exchange Commission (SEC) said in its filing that the Tesla boss saved around 150 million dollars (£123 million) in share purchases as a result of his actions.

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One subscription that gives you access to news from hundreds of sites

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These Minnesota Parents Were Censored at a Public Meeting for Saying School Employees' Job Titles

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