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  5. US Regulator Checks Musk's Buying of Twitter Shares, Media Writes

US Regulator Checks Musk's Buying of Twitter Shares, Media Writes


Twitter logo. File photoWASHINGTON, May 27 The U.S. Securities and Exchange Commission (SEC) is reviewing entrepreneur Elon Musk's buyout of Twitter shares and his official statements about plans for the company, the New York Times writes.By April 4 , when questions arose, Musk accumulated 9.2% of the shares and, in documents sent to the regulator, declared them as a “passive investment” and no intention to acquire the operator of one of the world's largest social networks. Ten days later, Musk was already offering $44 billion for Twitter in its entirety. whether Musk was really a “passive investor”, given that by this time he was already openly criticizing Twitter's content moderation policy and publishing recommendations on how the company should change,” the New York Times article says. that Musk allegedly collected more than 5% of Twitter shares on March 14, but did not disclose this until April 4, although the law requires disclosure within ten days. The SEC, Musk and his lawyers have not yet reacted to the publication.Almost half of US president's Twitter followers are fake, media reported