Securities and Exchange Commission v. Musk

UNITED STATES DISTRICT COURT FOR THE DISTRICT OF COLUMBIA SECURITIES AND EXCHANGE COMMISSION, Plaintiff, Civil Action No. 25 - 105 (SLS) v. Judge Sparkle L. Sooknanan ELON MUSK, Defendant. MEMORANDUM OPINION For almost a century, the Securities Exchange Act of 1934 has required periodic reporting and disclosures from investors. In 1968, Congress added Section 13(d) to the Act, which requires an investor who acquires more than five percent of a company’s outstanding common stock to disclose certain information to the public, including whether the purchase was for the purpose of acquiring…