Free Republic

Elon Musk was sued on Tuesday by the Securities and Exchange Commission for having failed to timely disclose purchasing more than 5% of Twitter’s common stock in March 2022 — a parting shot at the mogul by lame-duck SEC boss Gary Gensler. In a complaint filed in Washington, DC, federal court, the SEC said the delay allowed Musk to continue buying Twitter shares at artificially low prices, allowing him to underpay by at least $150 million.A lawyer for Musk said the billionaire did nothing wrong and called the SEC case a “sham.”The SEC wants Musk — who has since rebranded...