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  • Elon Musk reveals SEC sent him ‘settlement demand' after Twitter buyout probe

    12/13/2024 3:24:10 AM PST · by thegagline · 29 replies
    CNBC by way of NBC ^ | Loro Kolodny
    The Securities and Exchange Commission has issued a "settlement demand" to Elon Musk, according to a Thursday social media post by the tech billionaire. The federal financial regulator is asking Musk to agree to terms including a fine, or "face charges on numerous counts" regarding "Certain Purchases, Sales and Disclosures of Twitter Shares." The SEC has been investigating whether Musk committed securities fraud in 2022 as he sold shares in Tesla and shored up a stake in social network Twitter, ahead of his leveraged buyout. The Securities and Exchange Commission has issued a "settlement demand" to Elon Musk, the tech...