In the atmosphere, the tech billionaire, who is close to the USA's future president Donald Trump, is accused of having committed securities fraud. This is said to have occurred by misleading shareholders about his own stake in Twitter before he bought the platform in October 2022 for approximately 500 billion kronor.
As early as March the same year, six months earlier, Musk had a shareholding that meant he owned more than five percent of the company, something that according to the law must be reported to the SEC within ten calendar days. The authority claims that Musk ignored this requirement in order to keep the share price down and thus be able to buy Twitter at a cheaper price.
Elon Musk has previously denied the allegations.
