Musk suggests late Twitter disclosure was a mistake, seeks to end lawsuit

FILE PHOTO: Elon Musk, Chief Executive Officer of SpaceX and Tesla and owner of X looks on during the Milken Conference 2024 Global Conference Sessions at The Beverly Hilton in Beverly Hills, California, U.S., May 6, 2024.

The investors said this let Musk buy more shares at cheap prices, saving more than $200 million. Twitter, now known as X, rose 27 per cent on April 4, 2022 after Musk revealed his 9.2 per cent stake. "This is not a scheme to defraud," Musk said."All indications-including those in the pleadings-point to mistake."

Musk eventually bought San Francisco-based Twitter for $44 billion in October 2022. The SEC has also probed his Twitter stock purchases.

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