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SEC Chair Opposes Lawsuit Against Elon Musk Over Stock Deal

3/24/2025

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Summary

Story summary

Mark Uyeda, acting chair of the U.S. SEC, opposed suing Elon Musk over securities violations linked to his Twitter stock purchase.
Four commissioners, including Hester Peirce, supported the lawsuit, which was filed on January 14, 2023.
Musk is accused of delaying disclosure, allegedly saving $150 million by buying shares at lower prices.
He must respond to the lawsuit by April 4, as the SEC's investigation proceeds.

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Story summary

Mark Uyeda, acting chair of the U.S. SEC, opposed suing Elon Musk over securities violations linked to his Twitter stock purchase.
Four commissioners, including Hester Peirce, supported the lawsuit, which was filed on January 14, 2023.
Musk is accused of delaying disclosure, allegedly saving $150 million by buying shares at lower prices.
He must respond to the lawsuit by April 4, as the SEC's investigation proceeds.