Analysis: Why Elon Musk's fight with Twitter could draw further SEC scrutiny

[groundloop]

https://www.reuters.com/markets/deals/why-elon-musks-fight-with-twitter-could-draw-further-sec-scrutiny-2022-07-14/

Twitter Inc's (TWTR.N) fight with Elon Musk to enforce his $44 billion deal to buy the social media platform could attract scrutiny from the U.S. securities regulator over whether Musk has misled the market during the course of the deal.

Twitter on Tuesday asked a Delaware court to order the Tesla Inc boss and world's richest person to complete the merger, setting in motion what promises to be one of the biggest legal showdowns in Wall Street history. read more

On Friday, Musk said he was terminating the deal because Twitter violated the agreement by failing to respond to requests for information regarding fake or spam accounts on the platform, which is fundamental to its business performance. read more

In its Tuesday lawsuit, Twitter not only alleged that Musk was really backing out for financial reasons and that he broke the terms of the deal, but that Musk also broke U.S. securities rules by failing to disclose his 9% holding in Twitter on time.

GEE.... an ultra rich person doing something unethical to become even richer - I'd have never imagined.

[JohnSJ]

1. I think there is no doubt about, and that doesn't even include the shareholder lawsuits that will

surely follow

[LetMyPeopleVote]

2. Musk ignored the law and did not file a 13D within ten days of going over 5% of Twitter stock

Musk broke the law here

Musk's claims of fraud are really sad and bogus