Quotes
The SEC’s multi-year campaign of harassment against Mr. Musk culminated in the filing of a single-count ticky tak complaint against Mr. Musk under Section 13(d) for an alleged administrative failure to file a single form — an offense that, even if proven, carries a nominal penalty,
The Securities and Exchange Commission is a remarkable agency,
Musk paid significantly less for the shares of Twitter common stock he purchased between March 25, 2022, and April 1, 2022, than if he had timely disclosed,
Had Musk and his wealth manager disclosed his ownership as required, the stock price would likely have increased significantly,
the SEC’s lawsuit alleged As a result, Musk was able to continue purchasing shares at artificially low prices, allowing him to underpay by at least $150 million for shares he purchased after his beneficial ownership report was due,
a Business Insider report quoted the complaint as saying Because Musk failed to timely disclose his beneficial ownership, he was able to make these purchases from the unsuspecting public at artificially low prices, which did not yet reflect the undisclosed material information of Musk’s beneficial ownership of more than five percent of Twitter common stock and investment purpose,
the securities regulator said Defendant Elon Musk failed to timely file with the SEC a beneficial ownership report disclosing his acquisition of more than five percent of the outstanding shares of Twitter's common stock in March 2022, in violation of the federal securities laws,
the SEC said in a court filing Today’s action is an admission by the SEC that they cannot bring an actual case, because Mr Musk has done nothing wrong and everyone sees this sham for what it is,
Mr Spiro said in a statement
