SEC questions Elon Musk over late Twitter disclosure

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Illustration by Alex Castro / The Verge

The US Securities and Exchange Commission is scrutinizing Elon Musk’s initial disclosure that he’d taken a substantial stake in Twitter. In a letter sent last month, the SEC told Musk that he “does not appear” to have disclosed his acquisition of Twitter shares within the agency’s required 10-day window. The agency also suggested that Musk likely used the wrong form when he eventually disclosed his stake, using a document that wasn’t meant for someone who was hoping to make changes at the company being bought into.

Reports have trickled out that the SEC was looking into Musk’s disclosure, but this is the first public indication of the inquiry. The letter, filed April 4th but just now made public, requests clarifications from Musk on why...

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source https://www.theverge.com/2022/5/27/23144536/sec-elon-musk-twitter-disclosure-inquiry

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