Latest U.S. Securities and Exchange Commission News

Musk says he wants Twitter again and will pay $44B price

Oct. 05, 2022 07:47 AM EDT

Elon Musk wants Twitter again — and Twitter is game. The billionaire Tesla CEO has proposed to buy the company at the originally agreed-on price of $44 billion, bringing the tumultuous, monthslong saga another step closer to a conclusion. Musk made the surprising turnaround not on...

Deal back on? Elon Musk gets closer to buying Twitter

Oct. 04, 2022 20:14 PM EDT

The tumultuous saga of Elon Musk's on-again off-again purchase of Twitter took a turn toward a conclusion Tuesday after the mercurial Tesla CEO proposed to buy the company at the originally agreed-on price of $44 billion. Musk made the surprising turnaround not on Twitter, as has...

Buffett's successor buys nearly $70M of Berkshire stock

Oct. 03, 2022 19:17 PM EDT

OMAHA, Neb. (AP) — Billionaire Warren Buffett's successor bought nearly $70 million worth of stock in the conglomerate he is slated to one day lead. Berkshire Hathaway Vice Chairman Greg Abel on Monday disclosed buying 168 Class A shares in the company in a filing with the...

Kim Kardashian fined $1 million by SEC over crypto promotion

Oct. 03, 2022 18:08 PM EDT

The long list of celebrities promoting cryptocurrencies just got shorter. Kim Kardashian is being barred from doing so for three years — and will pay a $1 million fine -- to settle federal charges that she recommended a crypto security to her 330 million Instagram followers without making clear...

In court brief, Musk says the SEC is unlawfully muzzling him

Sep. 28, 2022 09:46 AM EDT

DETROIT (AP) — U.S. Securities regulators are unlawfully muzzling Tesla CEO Elon Musk, violating his free speech rights by continually trying to enforce a 2018 securities fraud settlement, Musk's lawyer contends in a court brief. The document, filed late Tuesday with the federal...

Forest service seizes PG&E equipment as part of fire probe

Sep. 26, 2022 16:08 PM EDT

SAN FRANCISCO (AP) — Federal investigators have taken possession of a Pacific Gas and Electric Co. utility transmission pole and attached equipment in a criminal probe into what started a Northern California fire that has become the largest in the state this year, the utility said in a regulatory...

Boeing pays $200 million to settle SEC charges over 737 Max

Sep. 22, 2022 18:27 PM EDT

Boeing Co. will pay $200 million to settle charges that the company and its former CEO misled investors about the safety of its 737 Max after two of the airliners crashed, killing 346 people. The Securities and Exchange Commission said Thursday that it charged the aircraft maker and...

Trump partner in Truth Social delays key vote on merger

Sep. 08, 2022 21:28 PM EDT

NEW YORK (AP) — A key decision over whether Donald Trump’s social media platform Truth Social will merge with a cash-rich company and get $1.3 billion to take on Twitter has been put off for another month. The potential partner, Digital World Acquisition Corp., on Thursday...

Investment regulators accuse NC insurance magnate of fraud

Aug. 30, 2022 18:07 PM EDT

DURHAM, N.C. (AP) — Federal securities regulators on Tuesday formally accused a North Carolina-based insurance magnate, an associate and their investment advisory firm of defrauding clients out of over $75 million through complex schemes involving undisclosed transactions. ...

House panel calls for cryptocurrency fraud oversight

Aug. 30, 2022 17:17 PM EDT

WASHINGTON (AP) — A House oversight subcommittee asked regulators and industry leaders on Tuesday to explain what they are doing to stop cryptocurrency fraud and other scams perpetrated on consumers. Illinois Rep. Raja Krishnamoorthi, head of the Economic and Consumer Policy...