News > Elon Musk accused of violating regulatory deadline while buying Twitter stock

Elon Musk accused of violating regulatory deadline while buying Twitter stock

The Free Press Journal | 13/04/2022 09:59 AM | Click to read full article

Elon Musk's huge Twitter investment took a new twist Tuesday with the filing of a lawsuit alleging that the colourful billionaire illegally delayed disclosing his stake in the social media company so he could buy more shares at lower prices.

The complaint in New York federal court accuses Musk of violating a regulatory deadline to reveal he had accumulated a stake of at least 5 per cent.