Connect with us

News Print & Digital

SEC Investigating Elon Musk for the Delayed Disclosure of Twitter Stake

The Securities and Exchange Commission (SEC) is analyzing the case that resulted in Musk’s late submission of a form investors must file when they purchase more than 5-percent of a company’s shares.

Published

on

The finalization of Elon Musk’s venture into Twitter has hit a bump in the road, as the Wall Street Journal reports that U.S. regulators are investigating the Tesla CEO for the delayed disclosure of his sizable stake in the social media giant. 

Sources close to the situation told The Journal the Securities and Exchange Commission (SEC) is analyzing the case that resulted in Musk’s late submission of a form investors must file when they purchase more than 5-percent of a company’s shares.

Musk filed the form at least ten days after the date when he was supposed to after the entrepreneur disclosed on April 4 that he had purchased a 9.2% stake in Twitter. The newspaper reports that he should have filed his disclosure by March 24 regarding SEC Rules. 

Musk offered to buy Twitter on April 14, and the social media outlet accepted his bid on April 25. However, the agreement is still required to pass shareholder and regulatory authorization.

Regardless of the situation, any possible lawsuit that the SEC might bring would be unlikely to disturb the deal closing, The Journal added. 

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published.

News Print & Digital

Insider Editor Stands By Sexual Harassment Accusation Story on Elon Musk

The accusation was made by an unnamed source, a friend of the flight attendant, in the Business Insider story, but Carlson said the allegation fulfilled the outlet’s criteria for publishing. 

Published

on

Tesla CEO Elon Musk is going on the offensive following the Insider report alleging the entrepreneur sexually harassed a flight attendant on a SpaceX corporate jet in 2016. 

He’s going after the media outlet, but Insider’s global editor-in-chief Nicholas Carlson is standing by his team’s reporting. 

The accusation was made by an unnamed source, a friend of the flight attendant, in the Business Insider story, but Carlson said the allegation fulfilled the outlet’s criteria for publishing. 

“Anytime you have a very powerful man and there are credible accusations that he’s done something wrong the way that he was accused of doing in this story,” Carlson said on CNN. “That’s absolutely and sort of obviously newsworthy.”

Musk touched on the fact that he has never been accused of anything, even during the MeToo movement, but the allegation surfaced as soon as he attempted to purchase Twitter to restore free speech. 

“They began brewing attacks of all kinds as soon as the Twitter acquisition was announced,” Musk tweeted Friday. “In my 30-year career, including the entire MeToo era, there’s nothing to report, but, as soon as I say I intend to restore free speech to Twitter & vote Republican, suddenly there is …”

Carlson stated Insider reporters asked Musk’s team for comment on the allegations before the Tesla CEO went to Twitter to offer his remarks. Furthermore, Carlson adds that the news media outlet has yet to face any legal matters due to the story. 

“I reached out to him personally a few times,” Carlson added. “[I] said come talk to us; we want to hear from you.” Musk declined Insider’s offer to grant him more time to respond.”

“We are prepared to defend the story vigorously. It’s the truth that we stand by our story, which is based on documents and interviews. It speaks for itself.”

Continue Reading

News Print & Digital

Lulu Garcia-Navarro to Host Opinion Podcast for NY Times

“When a lot of us hear the word “opinion” we think of hot takes — points of view in reaction to the news. But what about the experiences that shape our opinions?” The Times said in a press release. 

Published

on

New York Times

The New York Times will have a new opinion podcast coming out soon called “First Person.” The company announced that Peabody Award-winning journalist Lulu Garcia-Navarro will host this new show beginning June 9th. 

“When a lot of us hear the word “opinion” we think of hot takes — points of view in reaction to the news. But what about the experiences that shape our opinions?” The Times said in a press release

“That’s the question we’re exploring in “First Person,” a new podcast from New York Times Opinion with Lulu Garcia-Navarro. In each episode, Lulu sits down with people living through the headlines for intimate and surprising conversations that help us make sense of our complicated world.”

Garcia-Navarro will bring plenty of experience to her new podcast as a two-time Peabody Award-winning journalist with years of interviewing world leaders, authors, artists, and people living on the front lines of a changing world.

“This show is a new way of understanding where people’s opinions come from. It’s urgent and intimate and takes someone who is living through something incredible and asks them how they came to believe what they believe,” Garcia-Navarro said per Radio Ink

Continue Reading

News Print & Digital

Twitter Will Not Renegotiate Original Offer with Elon Musk

Twitter doesn’t plan on backing down from the agreement even as Musk attempts to cast doubt about the number of fake accounts on the platform. 

Published

on

Twitter is playing hardball with Elon Musk, who initially agreed to buy the social media platform for $44-billion. During a town hall meeting, executives of the company told staffers they would not renegotiate the price of his takeover agreement, per The Daily Beast

Furthermore, Twitter doesn’t plan on backing down from the agreement even as Musk attempts to cast doubt about the number of fake accounts on the platform. 

Nonetheless, earlier this week, the company stated that they had plans to “close the transaction and enforce the merger agreement” between the Telsa CEO and the social media giant. 

The terms of the buyout contract will make it hard for him to evade the deal with Twitter. It contains a $1 billion breakup fee, and the company could sue to compel Musk to follow through on the transaction.

Last week, the entrepreneur tweeted that he was placing the deal on hold until Twitter could verify that spam and fake accounts do not comprise more than 5 percent of its users. 

Musk stated that he was dedicated to purchasing the company and indicated that he was open to a deal at a lower price.

Continue Reading
Advertisement
Advertisement

Trending

Copyright © 2021 Barrett Media.