Elon Musk just got served. This is in connection with the SEC’s lawsuit against him for allegedly failing to disclose his Twitter stock purchases in 2022, prior to his purchase of the company. The notice was served on March 14, according to a court filing released Thursday.
The process server delivered the pawn civil summons to Musk at SpaceX’s headquarters in Brownsville, Texas. Once the server arrived to the SpaceX facility, the resistance started.
According to accounts, three separate security guards denied receipt of the suit. One of those private security guards told the server that she was trespassing on the private property.
The SEC’s lawsuit claims that Musk did not properly disclose his purchases of Twitter stock in 2022. The lawsuit alleges that Musk was over 10 days late in making this materially important disclosure.
Prior to orchestrating a takeover of Twitter for around $44 billion, Musk built up a stake in the firm above 5%. Hitting this threshold would have necessitated him publicly disclosing his holdings within 10 calendar days.
allowing him to underpay by at least $150 million for shares he purchased after his financial beneficial ownership report was due. - Securities and Exchange Commission's civil complaint
The Securities and Exchange Commission’s civil complaint, originally filed in U.S. District Court in Washington, D.C., in January. All of this comes after Musk has already settled civil securities fraud charges brought by the SEC while at the helm of Tesla. In that settlement, Musk personally and Tesla as a corporate entity were fined $20 million each. Besides the penalties, Musk agreed to temporarily step down from his role as chairman of the Tesla board.
