The Securities and Exchange Commission confirmed it has asked Elon Musk about the delay in disclosing his purchase of a stake in Twitter.
In …
The Securities and Exchange Commission confirmed it has asked Elon Musk about the delay in disclosing his purchase of a stake in Twitter. In a letter dated April 4 but only published by the SEC on Friday, Musk is asked a series of questions about his stake in the social media platform that he has offered to buy for $44 billion. Musk revealed a 9.2% stake in Twitter on April 4, the same day the letter was sent by the SEC, sending the company’s share price soaring. He joined the board a day later, before reversing that decision ahead of his $54.20 a share bid for Twitter that was accepted by the board. The regulator highlighted Musk’s “13G” schedule from his initial filing to state he had purchased more than 73 million shares on March 14.
