Elon Musk is being sued for failing to disclose his purchase of more than 5% of Twitter stock in a timely fashion.
The US finance regulator – the Securities and Exchange Commission (SEC) – said the delay allowed him to continue buying Twitter stock at artificially low prices.
In papers filed in Washington DC federal court, the SEC said the move allowed Mr Musk to underpay by at least $150m (£123m).
Read more: https://news.sky.com/story/musk-sued-over-buying-twitter-shares-at-artificially-low-prices-by-us-finance-regulator-13289168
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