Elon Musk under investigation by US agency for $44bn takeover of Twitter
Elon Musk under investigation by US agency for $44bn takeover of Twitter
Securities and Exchange Commission inquiring whether Musk broke federal law in 2022 when he bought stock in the platform
-
If a penalty is "worth it", it's a business decision, not a penalty. Add a zero or two if you want it to work as intended.
-
If he can even get a 1% gain in net worth from market manipulation, it would be a worth it even with 2 more zeros. 1 billion dollars is barely anything for him. 20mil is like a $80 fine for millionaire.
-
Crazy of you think about it. Kind of sad actually.
-
-
“A comprehensive overhaul of these agencies is sorely needed, along with a commission to take punitive action against those individuals who have abused their regulatory power for personal and political gains,” Musk said in a post on X.
He just can't stop being Trumply. "I'll sue the judge and district attorney!"
-
This is the best summary I could come up with:
Elon Musk is under investigation by the US Securities and Exchange Commission over his $44bn takeover of social media giant Twitter, it was revealed on Thursday.
The investigation concerns whether Musk broke federal securities laws in 2022 when he bought stock in Twitter, which he later renamed X, as well as statements and SEC filings he made about the deal.
Musk also refused to SEC proposals to conduct the deposition in Texas, where he legally resides, in October or November.
After announcing plans to buy the company in late April, he tried to get out of the deal, alleging Twitter was not disclosing the full extent of bot activity on its platform.
The SEC fined him $20m for misleading investors and forced him to step down as chairman of the company, a penalty he said in later tweets was “worth it”.
“A comprehensive overhaul of these agencies is sorely needed, along with a commission to take punitive action against those individuals who have abused their regulatory power for personal and political gains,” Musk said in a post on X.
The original article contains 510 words, the summary contains 179 words. Saved 65%. I'm a bot and I'm open source!
-
Who cares, he bought it and he ran it into the ground.
-
Blue bought it paying twice the worth and then made that worth 30% of what it was in about a year.
Ladies and gentlemen, the "smartest man on the planet" at work here!
-
-
he can't win this, can't he?
"i want to buy this."
"NOOO, YOU CAN'T DO THAT!"
"ok, i won't buy it."
"NOOO, NOW YOU HAVE TO!"
"ok, i bought it."
"WE WILL NOW INVESTIGATE YOU!"one does not have to like him to see the pattern behind this, just like the farce with investigating spacex for "discrimination" for not hiring migrants and foreigners even tho the law explicitly forbids the company to do so because of national security concerns.
-
I can see how it might look like that if you simply ignore literally all the details. But thats only something an idiot would do. You’re not an idiot, are you?
-
Yes, sadly for Musk, he has to follow security laws. Everyone else does also.
-
You only like to read the headlines of anything posted don’t you..
I know it takes a bit of extra time but why don’t you give reading the whole thing a try. Could help make or break your point
-
I don't think anyone told him he couldn't buy it.
The board of Twitter is who sued to force the sale, since musk had kicked himself in.
That doesn't mean his offer and subsequent behavior with the company isn't market manipulation to be investigated, which is being done by the government.
Both things can be true. He stupidly kicked himself into a deal he was forced to complete, and his behavior since has indicated that he's just gaming the market since he had to complete the deal.
-
The law does not forbid hiring of immigrants.
The law forbids hiring immigrants into positions of national security concern.
Policy must be administered to comply with the law.
With that being said, I am not sure what the charges against spacex are.
If they were rejecting immigrants for factory or aux support roles with no access to sensentive info, that would likely violate federal laws.
-
Bootlicker
-
I thought I was crazy at first when I read this then I realized you're totally simping
-
Oh wow. Yikes.
-
I don't like the guy either, but they literally had to force his hand to get him to buy Twitter. Now they want to investigate him for it? Sheesh.
Why the fuck there isn't an investigation into his Ukraine meddling though? If anything, that's of far greater concern.
-
He was "forced" to buy because he, uh, signed a contract saying he would. I'm sorry, but "voluntarily signed a purchase agreement" is only "forcing" if you believe people above a certain wealth level can do whatever the fuck they want with impunity.
He could have backed out and paid the fine he agreed to pay in the case he backed out, but he didn't want to do that, either.
He's not being investigated by someone else.
He can't win because he's a fucking idiot.
-
He offered to buy Twitter of his own volition. Nobody made him do that. He offered a rather high price, and had the option to pay $1 billion to get out of it. His preference was to act like "oh, let's just forget about that". Of course the shareholders and executives wanted him to go through buying Twitter at the best price they could possible get, and someone with his experience and level of business dealings would know that "oh, nevermind" wouldn't work. I'm sure he would pursue someone who signed a contract that would be in his favor and then tried to slink out of it.
But anyway, this investigation is not about the puirchase of twitter. it's when he bought 9-10% of the company and illegally did not disclose it properly. It's in the first line of the article...
Securities and Exchange Commission inquiring whether Musk broke federal law in 2022 when he bought stock in the platform
-