Elon Musk made the remark about DOGE’s potential to reduce costs during a livestream with the CEO of Stagwell Inc. Mark Penn.
The Securities and Exchange Commission (SEC) of the United States this week filed a lawsuit against X, ex-Twitter, the owner Elon Musk for the purchases of Twitter shares that he made in 2022.
Musk failed to timely disclose that he had purchased more than 5% of Twitter’s common stock in March of that year, the complaint said.
The SEC said it allowed Musk to continue buying shares in Twitter at an artificially low price, and paid under $150 million.
The US Securities and Exchange Commission this week filed a lawsuit against X, ex-Twitter owner Elon Musk for the purchases of Twitter shares that he made in 2022. (by Williams/CQ-Roll Call, Inc via Getty Images/Getty Images)
Musk started buying Twitter in April 2022, finalizing the October sale.
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He paid $44 billion for the social media platform.
Reuters contributed to this report.
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2025-01-15 00:04:00
