Biden’s Securities and Exchange Commission (SEC) on Tuesday filed a lawsuit against Elon Musk over his 2022 purchase of Twitter.
In October 2022 Elon Musk officially closed the deal to purchase Twitter for $54.20 per share – or about $44 billion.
According to the SEC, Elon Musk allegedly failed to properly disclose his 5% Twitter stock purchase in 2022 in the months leading up to his purchase of the platform.
The SEC claimed because Elon Musk purchased the stock at “artificially low prices,” he underpaid investors by $150 million.
“Musk paid significantly less for the shares of Twitter common stock he purchased between March 25, 2022 and April 1, 2022 than if he had timely disclosed,” the lawsuit said, according to CNN.
Read Full Article Here
JUST IN: Biden SEC Sues Elon Musk Over Twitter Stock Purchase, Accuses Him of Underpaying Investors by More Than $150 Million
- by: Cristina Laila
- 01.14.25
- Source:
The Gateway Pundit
- 01/15/2025
Elon Musk by Dan Taylor is licensed under flickr http://www.heisenbergmedia.com
Elon Musk by Dan Taylor is licensed under flickr http://www.heisenbergmedia.com
Follow us
Read our latest news on any of these social networks!
Get latest news delivered daily!
We will send you breaking news right to your inbox
Have a tip? Let us know!
Recent Articles
- by: Tim Stelloh
- Source:
NBC News
- 07/17/2025
Pete Hegseth orders the removal of 2,000 National Guard troops from Los Angeles
The troops were deployed after protests over immigration raids last month. California opposed the deployment, calling it a military overreach by the Trump administration.
- by: ASHRAF KHALIL
- Source:
AP News
- 07/17/2025
Despite scandal and a looming corruption trial, Trayon White wins vote to return to the DC Council
A former Washington, D.C., Council member is returning to his seat, five months after he was kicked out for his involvement in a federal bribery investigation.
- by: Stepheny Price
- Source:
FOX Business
- 07/17/2025
Trump admin pulls plug on $4B for California's 'train to nowhere' project
California's embattled high-speed rail project suffered a major setback after Transportation Secretary Sean Duffy announced the termination of $4 billion in unspent federal funding by the Federal Railroad Administration (FRA).
- by: ASSOCIATED PRESS
- Source:
Daily Mail
- 07/16/2025
At least 15 injured in Russian attack targeting energy infrastructure in Ukraine
Russia pounded four Ukrainian cities overnight into Wednesday, injuring at least 15 people in an attack that mostly targeted energy infrastructure, officials said.