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Roula Khalaf, Editor of the FT, selects her favorite tales on this weekly e-newsletter.
The US Securities and Change Fee has sued Elon Musk for allegedly failing to reveal his acquisition of greater than 5 per cent of Twitter’s inventory in a well timed method.
The securities watchdog accused the Tesla chief, who in 2022 acquired Twitter, now often called X, of not speaking the inventory buy he made in March that 12 months by the required deadline.
“In consequence, Musk was in a position to proceed buying shares at artificially low costs, permitting him to underpay by at the least $150 million for shares he bought after his helpful possession report was due,” the regulator alleged in a grievance filed on Tuesday.
Musk didn’t instantly reply to a request for remark.
