Sunday, 09 Mar 2025

SEC publishes letter asking Elon Musk to explain late Twitter filing

SEC publishes letter asking Elon Musk to explain late Twitter filing


SEC publishes letter asking Elon Musk to explain late Twitter filing
1.7 k views

The US financial watchdog has contacted Elon Musk about the disclosure of his stake in Twitter, asking the Tesla chief executive why he appeared to file a crucial form late.

Investors filed a lawsuit against Musk on Wednesday in which they claimed Musk had saved himself $156m by failing to disclose that he had bought more than 5% of Twitter in a timely manner.

The letter also asks Musk to explain why he filed a 13G, which is for passive investors who are not preparing to shake up the business in question. The SEC points out that an investor must file a different form, a 13D, if they have bought the shares with the intention of changing or influencing the control of the company in question. The day after filing his initial form, Musk refiled it as a 13D, for investors who intend to take an active role.

Durban is co-chief executive of private equity firm Silver Lake and is an ally of Musk.

you may also like

'Speaker scum' on flights sparks debate among travelers: 'This is getting out of hand'
  • by foxnews
  • descember 09, 2016
'Speaker scum' on flights sparks debate among travelers: 'This is getting out of hand'

A traveler asked social media users to weigh in on flyers who play audio aloud on their devices and don't use headphones.

read more