Musk Served with SEC Summons Over Twitter Disclosure Failure
A court summons was served to Elon Musk on March 14th at SpaceX headquarters regarding the SEC’s lawsuit alleging his late disclosure of Twitter stock purchases before his acquisition. The lawsuit claims Musk’s delayed reporting allowed him to underpay for shares by at least $150 million. Musk now serves as a top advisor to President Trump, whose administration has significantly weakened the SEC through budget cuts and procedural changes. Musk must respond to the summons by April 4th.
John Q. Hosedrinker