We’ve spent a little over a week since the announcement of Elon Musk’s arrival on Twitter and since then the message sprayer ran at full pressure and full time. Something that, well, the knowledge of Elon Musk’s personality is not exactly surprising, because he is used to both his verbal excesses and finding problems for inappropriate behavior. Little by little, we see the mythical image he has enjoyed for years declining, and I’m afraid it deserves it.

Last Monday, when I said that Elon Musk would not finally be on Twitter’s board, I made the mistake of saying that this announcement marked the end of the soap opera and that the main reason for Musek’s own decision may have to do with some hypothetical plans to increase their social participation. sewing. Now, given the new information, it is possible that resignation yes, it had to do with his share, but not with the future, but with the present.

And that’s how we can read in Engadget, Elon Musk will have to face a class action lawsuit for his purchase of Twitter shares. Specifically, the problem is that there are deadlines by which this type of operation must be notified to the SEC (US market regulator). And not doing so is considered to be an act that goes against the interests of the rest of the company’s investors in which the operation is carried out.

Well, according to the legal conditions Elon Musk had to submit documentation to the SEC by March 24 -10 days after the purchase of shares, but did not do so until April 4. This delay may not seem particularly significant, but it could have cost him as much as $ 156 million. According to the lawsuit, these profits were made at the expense of other shareholders, who could not obtain a similar advantage because they were unaware of the operation.

The use and misuse of privileged information has been severely harassed by regulators, and Elon Musk has clashed with the SEC several times before, so it is surprising that he acted in this way. I have no doubt that we are talking about a very busy person, but we are also talking about a person who can afford a law and financial office within the reach of very few people, so no wonder the reason why he did not publish the information in time. What do you think?