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US watchdog sues Elon Musk over late disclosure of Twitter stake


psyche101

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US watchdog sues Elon Musk over late disclosure of Twitter stake

Elon Musk is being sued by the securities regulator in the United States for allegedly failing to promptly disclose his stake in Twitter before he bought the social media platform.

The US Securities and Exchange Commission (SEC) said on Tuesday that Musk failed to disclose within the required 10-day period that he acquired more than 5 percent of Twitter’s stock in March 2022.

The Tesla and SpaceX CEO’s failure to notify regulators allowed him to keep buying shares at “artificially low prices”, the SEC said in a filing with the US District Court for the District of Columbia.

 

This is the third time the SEC has chased him. I wonder if he will cite presidential immunity..........

Edited by psyche101
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And so it begins.  With this guy, the Feds won't be able to crush him financially to force him to plead out.  There should be a law that when the US government comes against a citizen who is not wealthy and for a crime that is NOT violent, that government should have to pay all the legal expenses for a suitable legal counsel.  What they've done to those around Orange Man Bad has been nothing short of mafia-like.

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3 minutes ago, and-then said:

And so it begins.  With this guy, the Feds won't be able to crush him financially to force him to plead out.  There should be a law that when the US government comes against a citizen who is not wealthy and for a crime that is NOT violent, that government should have to pay all the legal expenses for a suitable legal counsel.  What they've done to those around Orange Man Bad has been nothing short of mafia-like.

Unlike you, most people aren't overly fond of criminals. 

The swamp is getting deeper and filthier by the day. 

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