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#Musk’s disclosure in April 2022 sent #Twitter’s share price soaring 27% over the previous close. Because Musk's disclosure came 21 days after his purchase, the #SEC has said, he was able to buy more shares at lower prices, ultimately allowing him to save $150 million on his acquisition of Twitter.

Twitter shareholders have also sued Musk for #fraud.

investigators at the agency also examined whether they could prove intent behind his late filing, which could have led to more serious charges.