The SEC Sues Elon Musk Over Twitter Acquisition Process

TaiwanPlus News

The U.S. Securities and Exchange Commission is filing a lawsuit against Elon Musk over his acquisition of Twitter, now known as X. The lawsuit alleges that Musk failed to properly disclose his significant Twitter holdings.

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00:00The top U.S. market watchdog is suing billionaire Elon Musk in connection to his acquisition of Twitter, which is now called X.

00:08The U.S. Securities and Exchange Commission, or SEC, alleges that Musk failed to disclose large purchases of stock in the social media company,

00:16which led him significantly undervalue later stock purchases.

00:20Now, this is the SEC's third lawsuit against Musk.

00:23The future of these suits is unclear, with U.S. President-elect Donald Trump set to appoint a new SEC head when he takes office.

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