SEC sues Musk, alleges failure to properly disclose Twitter ownership newsthirst.
The SEC filed a lawsuit against Elon Musk on Tuesday, alleging the billionaire committed securities fraud in 2022 by failing to disclose he had an accumulated an active stake in Twitter, a secrecy that allowed him to buy shares at “artificially low prices.” Musk, who is also CEO of Tesla and SpaceX, purchased Twitter for…