US: SEC sues Elon Musk for securities violation over X

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http://dw.com/en/us-sec-sues-elon-musk-for-securities-violation-over-x/a-712943…

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US financial regulator has sued Elon Musk for failing to properly disclose his purchase of Twitter shares that allowed him to buy stock at "artificially low prices." The US Securities and Exchange Commission sued Elon Musk Wednesday for failing to disclose his acquisition of Twitter shares before buying the company. The SEC said Elon Musk violated securities law by acquiring Twitter shares at "artificially low prices." "Defendant Elon Musk failed to timely file with the SEC a beneficial ownership report disclosing his acquisition of more than five percent of the...