The SEC had sought a declaration that Musk violated a May 31 court order to provide testimony. The SEC is investigating whether Musk violated securities laws in early 2022 by waiting at least 10 days too long to disclose he had begun accumulating Twitter stock. In July, Musk said he misunderstood SEC disclosure rules and that "all indications" suggested he made a "mistake." The SEC also sued Musk in 2018 over his Twitter posts about taking Tesla private. The case is SEC v Musk, U.S. District Court, Northern District of California, No.

Source: Forbes November 23, 2024 01:36 UTC