🎈 Up Big Today: Find today's biggest gainers with our free screenerTry Stock Screener

SEC extends Musk's response time for Twitter takeover inquiry, Reuters reports

Published 12/13/2024, 11:28 AM

The U.S. Securities and Exchange Commission (SEC) has granted Elon Musk additional time to respond to a settlement offer regarding an inquiry into his acquisition of Twitter for $44 billion in 2022, Reuters reported on Friday, citing a source familiar with the matter.

Initially, Musk was given a 48-hour deadline to agree to pay a penalty or face charges, as indicated by a letter from his lawyer posted on Twitter on Thursday.

The SEC initially sent Musk a settlement offer on Tuesday, specifying that timeline. However, after a request for additional time, the deadline has been extended to Monday, the report added.

An SEC spokesperson and Musk's lawyer did not respond immediately to calls for comment to Reuters.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.