The U.S. Securities and Exchange Commission has sued billionaire Elon Musk, alleging he failed to timely disclose his ownership of Twitter stock worth over 5%.
Musk allegedly underpaid by at least $150 million for shares of Twitter he purchased after he was legally required to disclose his ownership.
The SEC began investigating Musk's stock purchases and statements in April 2022 after he signed a deal to acquire Twitter and attempted to renegotiate.
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