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The SEC has charged Elon Musk, accusing him of defrauding Twitter shareholders of over $150 million.

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The SEC has charged Elon Musk, accusing him of defrauding Twitter shareholders of over $150 million.

Elon Musk, the billionaire entrepreneur behind companies like Tesla and SpaceX, is facing serious allegations from the U.S. Securities and Exchange Commission (SEC). The SEC has charged Musk with defrauding Twitter shareholders of more than $150 million during his attempt to acquire the social media platform in 2022. The charges focus on Musk’s delay in disclosing his substantial stake in Twitter, which the SEC claims allowed him to acquire shares at artificially low prices, ultimately harming investors.

The SEC’s complaint centers on a crucial period in Musk’s 2022 Twitter acquisition. By March of that year, Musk had acquired a 9% stake in the company, far surpassing the 5% threshold that triggers a mandatory public disclosure under U.S. law. The SEC contends that Musk failed to report this purchase within the required 10-day window, which resulted in a surge in Twitter’s stock price by 27% once his stake became public.

According to the SEC, Musk’s delayed disclosure allowed him to buy shares at prices that were artificially low. Investors who sold their shares during this period, unaware of Musk’s growing involvement, did so at a disadvantage, suffering financial losses as a result. The SEC argues that this violation of securities law led to significant harm for the shareholders who were affected

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Taylor Swift and Travis Kelce Spotted Meeting a Relationship Therapist at JoJo’s Bar in Chagrin Falls Ohio, as New Viral Video Shows Taylor Pointing Out a Change in Travis She Can’t Stand: “This Isn’t the Man I Fell For!” – Here’s Why (and the Videos)
CELEBRITY15 hours ago

Taylor Swift and Travis Kelce Spotted Meeting a Relationship Therapist at JoJo’s Bar in Chagrin Falls Ohio, as New Viral Video Shows Taylor Pointing Out a Change in Travis She Can’t Stand: “This Isn’t the Man I Fell For!” – Here’s Why (and the Videos)

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CELEBRITY15 hours ago

Taylor Swift and Travis Kelce Host INSANE, WILDEST 4th of July Party at Her Rhode Island Mansion – With A-List Guests Like BEYONCÉ, HARRY STYLES, BILLIE EILISH, KIM KARDASHIAN, CHRIS HEMSWORTH, and More… Then Drop an EXPLOSIVE, INTERNET-BREAKING ANNOUNCEMENT

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JUST IN: Taylor Swift and Travis Kelce Reportedly Banned from Exclusive Montana Resort Over “Excessive PDA” During July 4 Getaway – Staff Say Kissing Got So Intense, “They Were About to Remove Their Clothes!” See the Clearer Photos That Sparked It All

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A 5 Year Old Rushed to the stage during Taylor Swift’s Concert saying she has an URGENT message, and the Popstar Stops Everything she’s doing to listen… See Video and Full details
CELEBRITY3 days ago

A 5 Year Old Rushed to the stage during Taylor Swift’s Concert saying she has an URGENT message, and the Popstar Stops Everything she’s doing to listen… See Video and Full details

JUST IN: Taylor Swift Makes a Late, Picture-Perfect Appearance at the Chiefs–Broncos Game, but Fans Call Out Her “Confusing” Outfit—Saying the Color Looks Like She’s Supporting the Broncos—and Travis Kelce’s Reaction Once He Realizes How They’re Treating Her Is Impossible to Ignore
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JUST IN: Taylor Swift Makes a Late, Picture-Perfect Appearance at the Chiefs–Broncos Game, but Fans Call Out Her “Confusing” Outfit—Saying the Color Looks Like She’s Supporting the Broncos—and Travis Kelce’s Reaction Once He Realizes How They’re Treating Her Is Impossible to Ignore

Chiefs tight and Travis Kelce is getting set for Sunday’s big AFC West clash between Kansas City and Denver Broncos...
NEWS3 days ago

Chiefs tight and Travis Kelce is getting set for Sunday’s big AFC West clash between Kansas City and Denver Broncos…

16-year-old Jessica Turner came to the concert with her schoolmates, but they weren't really her friends. They constantly mocked her, excluded her, called her a Taylor Swift fanatic loser. When Taylor called her to the stage at the concert, she had a panic attack and fainted. Taylor immediately ran to her, brought water, said, "You're the bravest person. They don't understand you. Watch the Full video 👎
CELEBRITY3 days ago

16-year-old Jessica Turner came to the concert with her schoolmates, but they weren’t really her friends. They constantly mocked her, excluded her, called her a Taylor Swift fanatic loser. When Taylor called her to the stage at the concert, she had a panic attack and fainted. Taylor immediately ran to her, brought water, said, “You’re the bravest person. They don’t understand you. Watch the Full video 👎

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CELEBRITY3 days ago

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Body-shamers attacked Kylie Kelce. Jason’s unapologetic public defense, using her exact stats, slaughtered every critic. You must see his savage delivery!
NEWS3 days ago

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