SEC sues Elon Musk over failing to disclose Twitter stock stake

The U.S. Securities and Exchange Commission (SEC) this week filed a suit against X, formerly Twitter, owner Elon Musk over Twitter stock purchases he made in 2022. 

Musk didn’t disclose in a timely way that he had purchased more than 5% of Twitter’s common stock in March of that year, the complaint said. 

The SEC said that allowed Musk to keep buying shares of Twitter at an artificially low price, and he underpaid by $150 million. 

An SEC rule requires investors who own more...