时间:2024-09-20 08:50:01 来源:网络整理编辑:知識
Elon Musk is reportedly being investigated by the Securities and Exchange Commission over failure to
Elon Musk is reportedly being investigated by the Securities and Exchange Commission over failure to disclose his significant purchase of Twitter stocks within the mandated time frame. According to The Wall Street Journal, this delay may have saved him over $143 million.
The Wall Street Journalreports that Tesla's CEO and Twitter's imminent owner is in trouble with the SEC yet again, with the federal government scrutinising Musk's investment in Twitter earlier this year. Under the Securities Exchange Actof 1934, investors who acquire over 5 percent of a publicly traded company are required to file a report notifying the SEC within 10 days of the acquisition. Musk bought enough Twitter shares to pass this 5 percent threshold on March 14, putting the deadline for disclosure at March 24.
However, rather than notifying the SEC of his shiny new Twitter stocks, Musk waited until the deadline passed before buying even more shares, putting his stake at 9.2 percent. The billionaire only filed his report with the SEC on April 4, 11 days after he was required to do so for the first purchase.
Twitter's stock price predictably shot up after Musk's disclosure, closing 27 percent higher on the first day as the market took notice of his interest in the microblogging platform. Musk's delay in disclosing thus gave him a window to purchase additional shares at a lower price than it would have otherwise sold for — an opportunity he took full advantage of.
Musk's tardiness and subsequent gain also came at a cost to other traders. In April, the billionaire became the subject of a proposed class action brought by former Twitter shareholders, who had sold their shares between the date Musk was obligated to report his stake and the date on which he actually did.
It isn't clear what consequences Musk might face if the SEC does decide to take action against him. But whatever it is, chances are he and his $224 billion net worth will just shrug it off. After all, Musk hasn't shown much respect for the SEC nor contrition for his actions in the past.
TopicsTwitterElon Musk
Donald Trump's tangled web of Russian influence2024-09-20 08:13
玫瑰醬戚風蛋糕的做法2024-09-20 08:05
健康香蕉燕麥蛋糕的做法2024-09-20 07:53
2022/23賽季英國當地足總杯第一輪電視轉播安排+部分場次推薦2024-09-20 07:52
Darth Vader is back. Why do we still care?2024-09-20 07:51
涼拌芹菜紅蘿卜絲的做法2024-09-20 06:55
蝦仁奶油可樂餅的做法2024-09-20 06:44
番茄蝦仁疙瘩湯的做法2024-09-20 06:27
Katy Perry talks 'Rise,' her next batch of songs, and how to survive Twitter2024-09-20 06:26
醬肉絲澆真姬菇的做法2024-09-20 06:25
Man stumbles upon his phone background in real life2024-09-20 08:47
番茄蝦仁疙瘩湯的做法2024-09-20 08:44
涼拌芹菜紅蘿卜絲的做法2024-09-20 08:12
iOS 18: New features, release date, AI, and other rumors2024-09-20 07:54
Old lady swatting at a cat ends up in Photoshop battle2024-09-20 07:35
玫瑰醬戚風蛋糕的做法2024-09-20 07:30
酒釀夾心小元宵的做法2024-09-20 07:23
蜜瓜椰絲雞肉沙拉的做法2024-09-20 07:01
New Zealand designer's photo series celebrates the elegance of aging2024-09-20 06:22
蜜瓜椰絲雞肉沙拉的做法2024-09-20 06:07