Elon Musk’s legal battle with Twitter may be over, but his war with the SEC continues
October 07, 2022
Alon Kapen gives his insights on Elon Musk’s continued battle with the SEC regarding the pending Twitter deal on MarketWatch.
“There were clearly missteps along the way by Elon Musk in terms of his reporting obligations to the SEC,” Alon Kapen, a corporate transactions lawyer at the law firm Farrell Fritz, told MarketWatch.
Musk began building a stake in Twitter on Jan. 31, and securities filings show that he owned more than 5% of the company by March 14. Investors in public companies must disclose when they accumulate more than 5% of a company’s stock within 10 days of passing that threshold, but Musk waited until April 4 to disclose his stake.
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