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action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home4/scienrds/scienceandnerds/wp-includes/functions.php on line 6114Source: https:\/\/www.theverge.com\/2022\/5\/27\/23144536\/sec-elon-musk-twitter-disclosure-inquiry<\/a> The US Securities and Exchange Commission is scrutinizing Elon Musk\u2019s initial disclosure that he\u2019d taken a substantial stake in Twitter. In a letter<\/a> sent last month, the SEC told Musk that he \u201cdoes not appear\u201d to have disclosed his acquisition<\/a> of Twitter shares within the agency\u2019s required 10-day window. The agency also suggested that Musk likely used the wrong form when he eventually disclosed his stake, using a document that wasn\u2019t meant for someone who was hoping to make changes at the company being bought into.<\/p>\n Reports have trickled out<\/a> that the SEC was looking into Musk\u2019s disclosure, but this is the first public indication of the inquiry. The letter, filed April 4th but just now made public, requests clarifications from Musk on why he chose to use a form meant for passive investors and whether the agency is wrong about his filing coming in late.<\/p>\n A lot has happened in the nearly two months since this letter was sent. Musk was offered and accepted a seat on Twitter\u2019s board; Musk later decided against joining Twitter\u2019s board; then, Musk made an offer and subsequent agreement to purchase all of Twitter. All that activity will further color the SEC\u2019s reading of this initial filing, which the commission already seems to be skeptical of. If there was any uncertainty about Musk\u2019s activist intentions as of April 4th \u2014 the commission requests clarifications on some tweets about whether Twitter adheres to \u201cfree speech,\u201d which now seems fairly quaint \u2014 that uncertainty ought to have vanished by now.<\/p>\n This is just the latest standoff between Musk and the SEC, an agency that Musk has shown little regard for<\/a>. Musk recently tried to escape<\/a> a settlement he reached with the agency over his \u201cfunding secured\u201d tweet in 2018, in which he inaccurately claimed he had the money locked down to take Tesla private. Musk has since claimed the SEC\u2019s oversight of his Twitter activity, per the settlement, has been an attempt to \u201cchill his exercise of First Amendment rights.\u201d<\/p>\n<\/div>\n
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