Scrutiny of Elon Musk’s Twitter Moves Intensifies in Washington
- SEC opened probe into disclosures, Wall Street Journal reports
- World’s richest person also facing FTC inquiry over buyout bid
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Elon Musk’s bid to buy Twitter Inc. is facing more scrutiny in Washington following a report that the US Securities and Exchange Commission is probing whether he broke rules last month when disclosing a large stake in the social media platform.
The Wall Street Journal reported on Wednesday that the SEC is investigating Musk’s submission of a form that investors must file when they accumulate more than 5% of a company. The Federal Trade Commission is also reviewing the bid by the world’s richest person to take Twitter private.