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The Securities and Exchange Commission sued Elon Musk in federal court on Tuesday for allegedly misleading shareholders when he bought hundreds of millions of dollars worth of Twitter stock in ...
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.
Musk started buying shares of Twitter, which he later renamed X, in early 2022. By mid-March, he'd acquired ownership of more than 5% of the company's outstanding stock, according to the SEC filing.
The civil complaint added that by April 4, when Musk disclosed his ownership in the company, Twitter’s stock price had jumped more than 27 percent. “On April 4, 2022, eleven days after a ...
Following months of endless twists and turns, the $44 billion Twitter saga has finally come to an end and the "bird is freed," as Elon Musk tweeted on Oct. 27. The New York Stock Exchange has...
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.
The SEC launched an investigation into Musk in April 2022 over his initial purchase of Twitter stock and his various SEC filings related to the social media company.
By about Feb. 28, 2022, the broker asked Musk’s wealth advisor if Musk wanted more Twitter stock—past the key 5% threshold. On March 8, Musk’s manager told the broker to keep buying. On ...