Mashable: Twitter shareholder Elon Musk is reportedly being investigated by the SEC. Again.
Mashable: Twitter shareholder Elon Musk is reportedly being investigated by the SEC. Again.. “Under the Securities Exchange Act of 1934, investors who acquire over 5 percent of a publicly traded company are required to file a report notifying the SEC within 10 days of the acquisition. Musk bought enough Twitter shares to pass this 5 percent threshold on March 14, putting the deadline for disclosure at March 24. However, rather than notifying the SEC of his shiny new Twitter stocks, Musk waited until the deadline passed before buying even more shares, putting his stake at 9.2 percent.”