Elon Musk’s acquisition of Twitter has resulted in a federal lawsuit by the Securities and Exchange Commission alleging that he broke securities laws with a late disclosure, and saved $150 million in the process.

Before Musk agreed to buy Twitter for $44 billion, before he tried to back out of that deal, before he was forced to go through with it, and before he changed its name to X, he started by acquiring a substantial stake in the company but didn’t reveal that fact until weeks later.

Source link