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The US Securities and Exchange Commission has charged Elon Musk with not disclosing his acquisition of more than 5 percent of Twitter stock.
In 2022, Twitter sued the Tesla boss, now known as X, for failing to report a stock buyback he made in March of that year by a required deadline.
“As a result, Musk was able to continue to buy shares at artificially low prices, allowing him to pay at least $150 million less for the shares he bought after the beneficial ownership report was filed,” the regulator alleged in Tuesday’s complaint.
Musk did not immediately respond to a request for comment.
