Elon Musk says he’s facing fine over Twitter purchase
Dec 14, 2024
Elon Musk says the SEC is demanding he pay a fine or face charges.
The billionaire says he was ordered to settle charges over failing to disclose his initial purchase of shares of Twitter.
In April 2022, Musk disclosed that he bought 9% of Twitter shares ahead of the purchase of the entire company later that year.
However, the SEC says he did not disclose those purchases within 10 days as required by law.
In a letter to Musk’s attorney, the agency told him he has 48 hours to pay an undisclosed amount or face charges.