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BTCC / BTCC Square / Global Cryptocurrency /
Elon Musk Fires Back at SEC Amid $150M X Lawsuit

Elon Musk Fires Back at SEC Amid $150M X Lawsuit

Global Cryptocurrency
Author:
Global Cryptocurrency
Release Time:
2025-01-15 20:13:15
0
The U.S. Securities and Exchange Commission (SEC) has sued Elon Musk for allegedly failing to disclose his large Twitter share acquisition on time in early 2022. The SEC claims that this delay allowed Musk to secure his stake at an artificially reduced price, saving $150 million. The late disclosure also affected other investors, who missed the chance to sell their shares at potentially higher values, unaware of Musk’s involvement. Under SEC rules, investors surpassing a 5% stake in a public company must report it within ten days—a requirement Musk allegedly exceeded by eleven days.
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