SEC looms over Musk-Twitter deal

Washington DC: Elon Musk’s $44 billion deal to acquire Twitter has been the subject of countless headlines but the tendency to share his thoughts on the public forum might be putting the billionaire on a collision course with the Securities and Exchange Commission (SEC).

The SEC already has several potential reasons to probe Musk and his bid to buy Twitter, including the late disclosure of his stake in the company, filing the wrong type of disclosure, and his frequent criticism of Twitter leaders on the platform itself. Legally, Musk should have notified the SEC about his investments in Twitter far earlier, when he cleared a 5 percent stake.

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