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US sues Elon Musk for allegedly failing to disclose early Twitter stock purchase
short by Anmol Sharma / on Wednesday, 15 January, 2025
The US Securities and Exchange Commission has sued Elon Musk for allegedly failing to disclose his ownership of Twitter stock and later acquiring shares in the company at artificially low prices. The lawsuit seeks to force Musk to pay civil fine and disgorge profits he didn't deserve. Musk purchased Twitter for $44 billion in October 2022, and renamed it X.
read more at Reuters