In April 2022, Elon Musk bought 9.2% of Twitter. He was legally required to file a disclosure notice when his ownership exceeded 5%, but he didn’t. This allowed him to keep buying billions worth of stock for cheaper because the price immediately went up when his ownership became public.
Obvious violation of securities laws, with hundreds of millions in profit. Who knows if he’ll ever be held accountable. Musk seems to delight in mocking the SEC.
Obvious violation of securities laws, with hundreds of millions in profit. Who knows if he’ll ever be held accountable. Musk seems to delight in mocking the SEC.