🚀 Musk's $150M Lawsuit: SEC's Plot to Make Space Bucks? 🌟

Hold onto your rocket boosters, folks! ABC News is spilling the space beans: the Securities and Exchange Commission is sticking to its guns and suing Elon Musk for a cool $150 million. The Department of Government Efficiency’s head honcho is all set to face the music, accused of pulling a fast one on investors while he was busy snapping up Twitter stock like it was going out of style in 2022.

Back in the day, when Gary Gensler was the SEC’s top dog, they slapped Musk with a lawsuit in January 2025, saying he played fast and loose with the rules in his $44 billion Twitter heist, now rebranded as X. They’re saying Musk was less than forthcoming about his Twitter stock pile, which was bigger than a 5% chunk of the company, and missed the March 24, 2022, deadline to ‘fess up. This little oversight, they claim, meant he got a sweet $150 million discount on his shares. Talk about a steal!

But wait, there’s more! After Musk finally spilled the beans, Twitter’s stock price went sky-high, up 27%. Must have been all that rocket fuel in the stock market.

Oh Gary, how could you do this to me? 😢

— Elon Musk (@elonmusk) December 12, 2024

Musk’s mouthpiece, Alex Spiro, is calling the lawsuit a big, fat farce, saying Musk is as innocent as a puppy in a spaceship. This legal tussle is just the latest in a long line of headaches for Musk since he grabbed Twitter with both hands. In 2023, the SEC even sued him for playing hooky when they wanted him to spill the beans on the deal. Musk bailed with some shady excuses, leaving the SEC in the lurch.

2025-04-01 08:37

🚀 Musk’s $150M Lawsuit: SEC’s Plot to Make Space Bucks? 🌟

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