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  • 8 months ago
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.
Transcript
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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