back to article SEC probes Musk for not properly disclosing Twitter stake

America's financial watchdog is investigating whether Elon Musk adequately disclosed his purchase of Twitter shares last month, just as his bid to take over the social media company hangs in the balance.  A letter [PDF] from the SEC addressed to the tech billionaire said he "[did] not appear" to have filed the proper form …

  1. First Light Silver badge

    More Musk madness

    Sometimes moving fast and breaking things just breaks things.

    1. gerdesj Silver badge
      Paris Hilton

      Re: More Musk madness

      That quote was from the twiddler that runs Facebook.

  2. aldolo

    my 10K€ bank account seems worthless now

    how can i live with less then 1B$ per year?

    1. Anonymous Coward
      Anonymous Coward

      Re: my 10K€ bank account seems worthless now

      Easy

      Sell your villa in the south of France, lease out your Aspen condo, make your Mayfair flat into an AirBnB and eat lots of cheap noodles.

    2. simonlb
      Headmaster

      Re: my 10K€ bank account seems worthless now

      how can i live with less then 1B$ per year?

      I've lived my whole life so far with less than 1B$ per year.

      As for living on less than 1B$ a year, well that is a bit trickier.

  3. Winkypop Silver badge
    Happy

    If we’re really lucky

    He’ll bring the whole shebang down.

    1. Alumoi Silver badge
      Joke

      Re: If we’re really lucky

      Both of them?

  4. Anonymous Coward
    Anonymous Coward

    Trump, Pump

    and Dump.

  5. Howard Sway Silver badge

    SEC probes Musk

    Place your bets now on how soon the tiresome bro complains that the investigation into his shenanigans is "politically motivated".

    1. sreynolds Silver badge

      Re: SEC probes Musk

      Is it because I is from Zud Efrica?

    2. bazza Silver badge

      Re: SEC probes Musk

      And should he do so, then the correct response is that of course it is; the rule of law is something that politicians are, generally speaking (except sometimes when applied to themselves) in favour of being enforced...

  6. msobkow Silver badge

    Unfortunately it won't all stick to Musk's Teflon(tm) suit...

    It is depressing how often the rich get away with things that would put the rest of us in jail.

    1. Snowy Silver badge
      Coat

      Yes it has taken rather a long time for this probe to start when it was very clear he broken the rules.

      1. First Light Silver badge

        Wonder what part of him they're probing? ;-o

  7. Doctor Syntax Silver badge

    "Musk sold a chunk of his shares in Tesla worth $8.4 billion"

    Was this another transaction he should have filed with the SEC and if so did he?

  8. John Brown (no body) Silver badge

    Egon Durban...tried to resign

    "Egon Durban, a pro-Musk board director, tried to resign from the panel after shareholders voted to have him removed, but his request was rejected by Twitter in an SEC filing."

    Wait...what? How does that work then? The owners of the company vote him off the board, he then tenders his resignation and *Twitter* refuse? What right to Twitter have to over rule the company owners? Is there something missing from the article or is this something weird about US corporate rules?

    1. Phones Sheridan Bronze badge

      Re: Egon Durban...tried to resign

      This is probably mirroring that comic skit

      You’re going to be fired!

      You can’t fire me, I quit!

      You can’t quit it’s in your contract!

      What contract? You just fired me!

      Ah, but we’ve not served you formal notice yet, just notice that you’re going to be given formal notice of being fired!

      Reading between the lines, if he resigns he probably is entitled to a golden handshake. If he’s formally fired, he doesn’t get that. Or it’s the opposite way round depending on the lawyers.

      1. Doctor Syntax Silver badge

        Re: Egon Durban...tried to resign

        "Or it’s the opposite way round depending on the lawyers."

        More likely a golden handshake either way.

  9. Fruit and Nutcase Silver badge

    "it’s been raining money on fools for too long"

    says Musk -

    https://www.theguardian.com/technology/2022/may/28/elon-musk-welcomes-global-recession-its-been-raining-money-on-fools-for-too-long

    Well, a rich fool does not have to think do I eat or do I pay for fuel

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