Under the securities laws, one must disclose when they buy more that 5% of a public company so that investors can know if there is a takeover attempt. Musk ignore this law and was able to save $150 million in his acquisition of Twitter. Musk underpaid Twitter shareholders by $150 million by not disclosing his stake in Twitter in accordance with thelaw
See https://www.democraticunderground.com/?com=view_post&forum=1014&pid=3373484
https://www.cnbc.com/2025/01/14/sec-sues-musk-alleges-failure-to-properly-disclose-twitter-ownership.html
According to the SEC’s civil complaint, filed in U.S. District Court in Washington, D.C., Musk was more than 10 days late in reporting that material information, “allowing him to underpay by at least $150 million for shares he purchased after his financial beneficial ownership report was due.” Investors may have bid up the stock had they known about Musk’s purchases and interest in the company.
Musk defrauded Twitter shareholders by not following the securities laws. The SEC wants people to comply with the securities laws and objects to Musk defrauding Twitter shareholders by breaking the law
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