A Twitter shareholder sued Elon Musk on behalf of investors Tuesday for allegedly failing to disclose his massive purchase of the company’s shares until after …
A Twitter shareholder sued Elon Musk on behalf of investors Tuesday for allegedly failing to disclose his massive purchase of the company’s shares until after the required deadline. The lawsuit, filed by Twitter shareholder Marc Rasella on behalf of other investors, claims Musk waited until after the Securities and Exchange Commission’s (SEC) mandatory deadline to disclose his stake in the company, allowing him to buy more stock at a deflated price while investors lost out on potential gains.
