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Musk, US SEC in Settlement Talks
Elon Musk and the US Securities and Exchange Commission are in talks to settle a lawsuit. The lawsuit is about Twitter.
In 2022, Musk bought Twitter shares without telling regulators. The US Securities and Exchange Commission said he did not tell them quickly enough.
Musk is the billionaire founder of Tesla. His lawyers tried to resolve the matter. They did this without US Securities and Exchange Commission counsel.
Klear Note — The SEC requires investors to report large stock purchases quickly. Musk bought Twitter shares in 2022 without telling regulators fast enough.
Key Terms 3
- Securities and Exchange Commission
- US government body that watches over stock markets and investors
- settle
- agree to end a legal dispute, often by paying money or making a deal
- stake
- owning shares in a company, giving you part ownership