The Securities and Exchange Commission has filed a lawsuit against Elon Musk alleging that in the lead-up to his acquisition of Twitter ... stock during this period did so at artificially low ...

The US Securities and Exchange Commission is suing Elon Musk, the owner of social media site X, alleging the world's richest man held off declaring his substantial purchase of Twitter shares in 2022.

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

The SEC has sued billionaire X owner Elon Musk, alleging he failed to disclose his ownership of Twitter stock in a timely manner in 2022.

said the delay allowed him to continue buying Twitter stock at artificially low prices. In papers filed in Washington DC federal court, the SEC said the move allowed Mr Musk to underpay by at ...