None of that has anything to do with my question, though. It doesn't matter what his motivations are. The question is, what law or regulation has he violated? On what basis can the SEC go after him, specifically?
And you might wonder why he did not join board and what background check he failed ? Surprise .. in his SEC filing he said he is going to be a passive investor and then suddenly tried joining the board and then when was not allowed he tried to just waste news cycles by trying to buy the whole company . I understand lot of People are Elon fan boys. Which I don’t .. I prefer people who are good not horrible .. yeah great job with Tesla or space x .. but give me a break on him making Twitter free speech bastion .. if he had so much interest maybe he should go buy his buddies truth social and make that amazing .
Sec requires if you buy more than 5% of company you should disclose for a reason. He kept buying till 9% and then disclosed it . He did not buy all in one day .. it was months long project .. so he kept prices low and the. After announce you see the bump.. so yeah there is your answer and I’m sure there might be others rules being bend .. by our lord our savior Elon musk
