SEC Accuses Musk of Fleecing Twitter Investors
Photographer: Allison Robbert/AFP
Good morning. Elon Musk is being sued by the US SEC. The ECB’s Philip Lane says the euro-dollar rate matters even if firms absorb initial swings. And Google’s Sundar Pichai joins tech CEOs in bidding for a London cricket team. Listen to the day’s top stories.
Elon Musk cheated Twitter shareholders out of more than $150 million by waiting too long to disclose his growing stake in the company in 2022 as he prepared a takeover bid, the US Securities and Exchange Commission said. The complaint was immediately disputed by Musk’s lawyer.