Once Musk did report his purchase, Twitter's stock price skyrocketed, pushing the value of Musk's shares up to $2.89 billion. Twitter's stock ended the day 27 percent higher than the previous day's ...

Elon Musk is being sued by the U.S. Securities and Exchange Commission over his 2022 Twitter takeover. The agency alleges ...

The financial regulator wants Musk to pay a civil penalty and remedies over alleged “unjust enrichment” ahead of his 2022 ...

“In total, Musk underpaid Twitter investors by more ... “Investors who sold Twitter common stock during this period did so at artificially low prices and thus suffered substantial economic ...

According to the SEC complaint, Musk didn’t follow disclosure rules, “allowing him to underpay by at least $150 million for shares he purchased after his financial beneficial ownership report was due.

At market close on that day, Twitter's stock price increased 27% compared to the prior day's close. The SEC alleges that between March 22 and April 4, Musk purchased more than $500M additional ...

When he finally disclosed his 9% stake in Twitter, the stock price jumped 27% off the previous close. A delay, the SEC says, lettered Musk to profit on artificially low prices as others ...

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 than 5% of a stock to ...

“Had Musk and his wealth manager disclosed his ownership as required, the stock price would likely have increased significantly,” the SEC’s lawsuit alleged. Musk bought Twitter in October ...

The agency claimed that investors and the “unsuspecting public” who sold Twitter stock during that period did so “at artificially low prices,” which led them to suffer “substantial ...