The U.S. Securities and Exchange Commission gave Elon Musk until Monday to respond to a proposed settlement with a fine for allegedly manipulating public opinion to change stock prices during negotiations to acquire Twitter in 2022.
Author:
https://rb.ru/author/alipova/
Subscribe to RB.RU on Telegram
The SEC initially gave Musk 48 hours to make a decision, starting on Tuesday, but later extended the deadline in response to a request, a source familiar with the matter told Reuters. Such compliance may indicate the Commission’s intention to complete its investigation quickly.
In early 2018, a similar accusation of manipulation through strong public statements was brought against Musk in the Tesla case, when the owner promised to take the company public. Musk then settled the dispute and agreed to an unusual settlement that required some of his posts to be reviewed by a lawyer.
If Musk does not respond to the proposed fine, the SEC will likely initiate a notification process — a formal step in which the Commission lays out the possible charges and allows the accused to present their case.
The billionaire considered this further proof that the Commission continues
Author:
Ekaterina Alipova
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
