That kept the stock price down and enabled Musk to save $156 million in continued purchases that made him Twitter’s largest shareholder at 9.2%, the suit said.
As described in Wednesday’s shareholder suit, Musk had acquired more than 5% of the company’s stock by early this month but waited more than 10 days to make the legally required disclosure to the SEC. The Wall Street Journal has reported that the SEC is also investigating Musk over the timing of his disclosure of purchases of Twitter stock. Check the water shortage status of your area, plus see reservoir levels and a list of restrictions for the Bay Area’s largest water districts.
