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Did Elon Musk break the law while buying Twitter shares? - Tesla CEO Elon Musk has been accused of breaking the law while buying Twitter stock, which made him the largest shareholder of the company.
Elon Musk's huge Twitter investment took a new twist Tuesday with the filing of a lawsuit alleging that the colorful billionaire illegally delayed disclosing his stake in the social media company so he could buy more shares at lower prices.
SAN FRANCISCO (AP) — Elon Musk’s huge Twitter investment took a new twist Tuesday...
The complaint accuses Musk of violating a regulatory deadline, allowing him to continue buying shares at a cheaper price.
Musk spent about $2.6 billion on Twitter stock — a fraction of his estimated wealth of $265 billion, the largest individual fortune in the world. In a regulatory filing Monday, Musk disclosed he may increase his stake after backing out of an agreement reached last week to join Twitter’s board of directors.