Elon Musk Summoned in SEC Case for Twitter Disclosure Regarding Stake
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Elon Musk, who is currently the wealthiest individual globally and a prominent adviser to President Donald Trump, received a civil summons regarding the Securities and Exchange Commission's legal action against him. The court documents were handed over by a process server to a security guard at SpaceX headquarters in Brownsville, Texas, where Musk serves as the CEO. The deadline for a response is set for April 4. According to the filing, the SEC alleged that Musk did not promptly disclose his significant ownership in Twitter in 2022, a company he later acquired and rebranded as X. The SEC claimed that Musk violated securities laws by not reporting within the required 10-day period after acquiring 5% of Twitter's common shares. Musk and his attorney have yet to provide a response to the media regarding this matter, while an SEC spokesperson has declined to comment.

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