The United States Securities and Exchange Commission (SEC) is reviewing Tesla Managing director By Elon Musk disclosed his stake in Twitter Inc in early April, according to a letter the company sent him in April.
In the letter, which has now been made public by the SEC, the regulator asked Musk why it appears he did not file the necessary paperwork within 10 days of the acquisition and to provide more information about his public statements on the platform about whether Twitter adheres to freedom of speech. Rule.
Specifically, the SEC asked Musk to explain why he ultimately chose to submit the “13G” disclosure form, intended for investors who plan to hold their shares passively, instead of the “13D” form. “, intended for activist investors intending to influence management. and company policies.
Spokespersons for the SEC and Musk did not immediately respond to requests for comment.
Outside experts have previously said that Musk’s late filing, and his use of inappropriate paperwork, could attract the attention of the SEC, which has interested Musk in the past.
The SEC letter has the same day Musk disclosed a 9.2% stake in Twitter. The billionaire, who went public on Twitter for $44 billion privately, has been sued by investors for allegedly manipulating the company’s stock price.
The Tesla Inc CEO has run into trouble with the SEC before, when the agency sued him in 2018 after he tweeted that he was “financially secured” to potentially do so. tram privately held company at $420 per share. In fact, a buy wave is not close.
