The US Securities and Exchange Commission (SEC) has fined businessman Elon Musk $1.5 million for failing to disclose information about the acquisition of "Twitter" (now X) shares in a timely manner.
Modern.az reports that the US Securities and Exchange Commission has released information about this.
It was stated that the investigation was conducted in connection with Musk's late submission of information about his acquisition of 9.2 percent of "Twitter" shares in March 2022.
According to the Commission's rules, an investor who acquires more than 5 percent of shares must inform the regulatory p within 10 days.
However, Elon Musk acquired the shares in question on March 14, 2022, but submitted the notification only on April 4.
