The securities-fraud suit alleges the late notice saved Musk close to $143 million at the expense of other investors. Securities law demands a purchase of that magnitude to be reported to the Securities and Exchange Commission within 10 days. The suit was filed by Marc Bain Rasella in a federal court in New York.
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Musk Facing Shareholder Lawsuit After Allegations of Securities Fraud
Elon Musk is facing a lawsuit from a Twitter shareholder alleging he was late to disclose his new $2.6 billion stake in the social media platform. So reports NPR.
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