The SEC’s investigation traces its origins back to 2022 when it launched a probe into Musk’s delayed disclosure of his ownership stake in Twitter. At that time, Twitter was a publicly-traded company, and U.S. securities law mandates timely disclosure of such holdings. Musk’s delay in filing the required paperwork, a mere 10 days late, could have potentially netted him as much as $156 million. This delay also made him the subject of a class-action lawsuit filed by former Twitter shareholders.
Missed Testimony and Blanket Refusal
