Elon Musk facing lawsuit from US government over undisclosed early Twitter stock purchase

U.S. financial regulators have charged Elon Musk with allegedly threatening other shareholders by not disclosing his ownership of Twitter shares and then acquiring the company’s shares at artificially low prices.

The Securities and Exchange Commission (SEC) filed a lawsuit against Musk in federal court in Washington, D.C., accusing him of securities violations. The complaint states that Musk failed to disclose his 5% stake in the company in a timely manner and profited from the stock purchased after the filing deadline for ownership statements. The company ended up paying less than $1,000,000.

Musk purchased Twitter for $44 billion in 2022 and later rebranded the company as X. He acquired a 5% stake in the company before the purchase, which normally would require a public offering. The SEC claims that Musk disclosed his ownership on Twitter 11 days after the reporting deadline.

Musk’s lawyer, Alex Spiro, stated in an email that the SEC’s lawsuit is baseless, claiming that Musk did nothing wrong. This is not the first time Musk has been investigated by the SEC for his involvement with Twitter.

The SEC alleges that Musk delayed disclosing his ownership to the public and spent over $500 million on additional shares, potentially allowing the company to purchase stock at an artificially low price.

Skip past newsletter promotions

Despite Musk disclosing his ownership to the SEC 11 days later, he stated that he had acquired more than 9% of Twitter’s stock. The SEC noted that Twitter’s stock price rose by over 27% on that day.

Source: www.theguardian.com

An undisclosed ice base uncovers ethereal cosmic particles in Antarctica

Scientists have faced a challenge for nearly a century: How do you detect the undetectable, like the elusive neutrino? But now, in a groundbreaking discovery, neutrinos from elsewhere in the Milky Way have been detected for the first time, shedding light on a new era of neutrino astronomy.

The discovery of neutrinos has opened up new possibilities, and researchers like Steve Sclafani from the University of Maryland are excited about this new frontier. Neutrinos, the second most abundant elementary particles in the universe, are notoriously difficult to detect due to their elusive nature. When Austrian physicist Wolfgang Pauli proposed their existence in the 1930s, he thought they could never be detected, but he was proven wrong in 1956.

The discovery of neutrinos from outside the Milky Way was made possible by the IceCube Neutrino Observatory, a massive telescope located near the South Pole. By detecting high-energy neutrinos from distant galaxies, scientists are uncovering the mysteries of cosmic particle accelerators. These accelerators, like supermassive black holes, can provide clues about the origins of cosmic rays and other cosmic phenomena.

Small particles, huge targets

The IceCube detector, operated by a collaboration of scientists from around the world, works by detecting Cherenkov radiation emitted when high-energy neutrinos interact with the ice. This innovative approach allowed researchers to distinguish Milky Way neutrinos from other background signals, leading to the detection of hundreds of neutrinos over a 10-year period.

By studying the distribution of these neutrinos, scientists hope to learn more about the origins of cosmic rays and other high-energy phenomena in our galaxy. With plans to expand the IceCube observatory and improve detection methods, the future of neutrino astronomy looks promising.

Birth of neutrino astronomy

The detection of high-energy neutrinos from the Milky Way marks a new era in astronomy, providing researchers with a unique tool to study cosmic phenomena. By tracking these neutrinos back to their sources, scientists hope to uncover the mechanisms behind cosmic particle accelerators and other cosmic mysteries.

Neutrino astronomy offers a new perspective on the universe, allowing researchers to peer into the heart of energetic and turbulent environments near supermassive black holes. This discovery opens up a whole new window on the universe, providing invaluable insights into the workings of the cosmos.

New perspective

Neutrino astronomy has the potential to revolutionize our understanding of the universe, offering a rare glimpse into the inner workings of cosmic particle accelerators and other energetic phenomena. By studying the origins of high-energy neutrinos, researchers can uncover the mysteries of the cosmos and explore new frontiers in astrophysics. Exciting times lie ahead for neutrino astronomy, with new discoveries and advancements on the horizon.

read more:


About our experts

Mirko Hünefeld from Dortmund University of Technology and Steve Sclafani from the University of Maryland are leading scientists in the field of neutrino astronomy. Their contributions to the IceCube observatory have helped advance our understanding of the universe and unlock new insights into cosmic phenomena.

Source: www.sciencefocus.com