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SEC Sues Elon Musk Over Delayed Disclosure of Twitter Stake Purchase
The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against tech billionaire Elon Musk, accusing him of failing to promptly disclose his ownership of more than 5% of Twitter ahead of his acquisition of the company in 2022.
According to the SEC, Musk began purchasing Twitter shares early in 2022, surpassing the 5% threshold on March 14, 2022.
Under securities laws, Musk was required to disclose his holdings within 10 days, but he didn’t reveal that he owned 9% of Twitter until April 4, which was 11 days later than the legal deadline.
The delay in disclosure is said to have led to a 27% jump in Twitter’s share price after Musk made the announcement.
The SEC also claims that Musk’s actions resulted in an underpayment of at least $150 million for the shares he bought during that period.
The SEC is now seeking to have Musk repay the $150 million, plus additional penalties.
In response, Musk’s lawyer, Alex Spiro, defended his client, insisting that Musk had “done nothing wrong.”
Spiro also accused the SEC of running a “multi-year campaign of harassment” against the billionaire.
Nigerian comedian Seyi Law takes to social media as he defends President Bola Tinubu. The comedian stated that the president has done a lot in his administration and claimed that Nigeria is safer and economically sound under his administration.
He then compared how things now to past years under the administration of others, and shared how things were bad. He claimed that now the economy is stabilized.
“Nigeria is safer now than 10 years ago. This government has killed more bandits than any government in Nigeria since the time of Jonathan. When last have you heard of bomb blast in Nigeria?”
It has been reported that fire occurred at the Murtala Muhammed International Airport, Lagos (MMIA), Terminal 1. This fire incident occurred on Monday, 23rd of February, 2026.
Passengers at that terminal were spotted running away for safety after seeing the fire and the alarm.
The Federal Airports Authority of Nigeria (FAAN) released a statement and shared that no life was lost and people were saved and avoided danger.
It has been reported that Kano State has closed down all entertainment spots across the state. This was stated to happen because of the ongoing Ramadan fast.
The federal government shared that the new law will take place from 18th of February, 10 pm, till the last day of Ramadan. This is in order for the people participating in it to truly focus on the fast.
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