On Tuesday, the Securities and Exchange Commission (SEC) filed a lawsuit against Elon Musk, the owner of Tesla, SpaceX, and the social media platform X (formerly known as Twitter), over his alleged failure to disclose his purchase of Twitter stock in 2022.
As reported by Just The News, the alleged purchase of stock by Musk led to him underpaying Twitter investors at the time of his buyout of the company in October of 2022. The lawsuit claims that this action meant Musk was able to buy stocks at “artificially low prices.”
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