Shares of Meta Platforms slid nearly 6% in the week following Zuckerberg’s Jan. 7 announcement that he was ending the company’s internal fact-checking program and replacing it with a user-based system to flag problematic content.

Mozi co-founders Ev Williams, left, and Molly DeWolf Swenson. (Margo Moritz Photo) Bucking the conventional wisdom around most new products, Molly DeWolf

The Securities and Exchange Commission sued Elon Musk in federal court on Tuesday for allegedly misleading shareholders when he bought hundreds of millions of dollars worth of Twitter stock in 2022, before acquiring the company. The SEC alleged that Musk ...

The U.S. Securities and Exchange Commission is suing Elon Musk for allegedly failing to properly disclose his purchase of Twitter shares before buying the company, currently known as X.

Musk bought Twitter shares at 'artificially low prices' and saved $150 million because he reported his Twitter stake late, the SEC alleges.

According to the SEC complaint, Musk didn’t follow disclosure rules, “allowing him to underpay by at least $150 million for shares he purchased after his financial beneficial ownership report was due.

Elon Musk is being sued by the U.S. Securities and Exchange Commission over his 2022 Twitter takeover. The agency alleges that the billionaire failed to disclose his ownership of Twitter stock in a timely manner, saving himself at least $150 million “at the expense of shareholders.”

The financial regulator wants Musk to pay a civil penalty and remedies over alleged “unjust enrichment” ahead of his 2022 purchase of the social network.

Elon Musk was sued on Tuesday by the U.S. Securities and Exchange Commission, which accused the world's richest person of waiting too long to disclose in 2022 he had amassed a large stake in Twitter,

Twitter's stock price rose 27 percent once Musk belatedly disclosed his stake, the lawsuit said. "During the period that Musk was required to publicly disclose his beneficial ownership but had failed to do so, he spent more than $500 million purchasing additional shares of Twitter common stock," it said.

The lawsuit accused Musk of misleading shareholders by not reporting his 2022 investment in the social-media company in a timely manner.