The Securities and Exchange Commission (SEC) is accusing Elon Musk of underpaying for Twitter by at least $150 million when he purchased it for $44 billion in 2022 and later rebranded it to X in 2023. Now Musk is taking to the very same platform under scrutiny, X, to push back against the SEC’s allegations.
In a complaint filed against Musk on Tuesday in the U.S. District Court for the District of Columbia, the SEC alleges that Musk achieved a large Twitter stock position without filling out the proper paperwork in time.
Musk amassed a stake in Twitter of greater than 5% of outstanding shares by March 14, 2022, but allegedly
→ Continue reading at Entrepreneur