🚨 BREAKING: Elon Musk Sued by SEC 🚨
The U.S. SEC has filed a lawsuit against Elon Musk, claiming he failed to disclose his acquisition of more than 5% of Twitter’s stock within the required timeframe in early 2022.
🔍 What’s the allegation?
Musk allegedly delayed the disclosure, allowing him to buy more shares at lower prices, saving over $150 million.
💥 Musk's Response
His attorney, Alex Spiro, calls the lawsuit a “sham” and part of ongoing harassment by the SEC.
📜 Background
Musk’s history with the SEC includes the 2018 Tesla privatization tweet settlement, where he paid a fine and stepped down as chairman.
⚖️ What’s next?
The case could test the limits of the SEC’s power and bring more attention to disclosure regulations in the stock market.
📰 Source: The Washington Post, January 14, 2025
💬 What do you think—will Musk emerge unscathed, or could this impact his businesses? Share your thoughts! 👇
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