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The business magnate Elon Musk initiated an acquisition of American social media company Twitter, Inc. on April 14, 2022, and concluded it on October 27, 2022. Musk had begun buying shares of the company in January 2022, becoming its largest shareholder by April with a 9.1 percent ownership stake.
Using Twitter stock to fund the takeover, Twitter announced in July 2008 it had acquired Summize. Summize had six employees, all of whom joined Twitter except for Verdy. [1] The month of the acquisition, Twitter changed both its page for real-time searches and its search API to use Summize's product. [2]
Elon Musk completed his acquisition of Twitter in October 2022; Musk acted as CEO of Twitter until June 2023 when he was succeeded by Linda Yaccarino.In a move that, despite Yaccarino's accession, was widely attributed to Musk, [1] [2] Twitter was rebranded to X on July 23, 2023, [3] and its domain name changed from twitter.com to x.com on May 17, 2024.
Musk has called the SEC "just another weaponized institution doing political dirty work." Musk started buying shares of Twitter, which he later renamed X, in early 2022.
What is the complaint against Musk? Musk, according to the SEC’s complaint filed in U.S. District Court in Washington, D.C, purchased more than $500 million worth of Twitter stock between March ...
The investigation, which escalates a long-running feud between the SEC and Musk, concerns whether Musk broke federal securities laws in 2022 when he bought stock in Twitter, which Musk renamed X ...
The U.S. Securities and Exchange Commission this week filed a suit against X, formerly Twitter, owner Elon Musk over Twitter stock purchases he made in 2022. Musk began to buy Twitter in April ...
Musk bought Twitter in October 2022 and later renamed it X. ... saying he failed to disclose his ownership of Twitter stock in a timely manner in early 2022, before buying the social media site ...