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- Elon Musk sued by SEC for allegedly failing to disclose growing Twitter stake
Elon Musk sued by SEC for allegedly failing to disclose growing Twitter stake
Top stories today:
- Elon Musk sued by SEC for allegedly failing to disclose Twitter stake
- TikTok said to block access, shut down immediately in U.S. on Jan. 19
- OpenAI brings Tasks to ChatGPT to schedule reminders, to-dos
- Meta to cut ~5% of staff, targeting lowest performers
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Listen to our AI-generated podcast summarizing today’s newsletter (beware of hallucinations):
1. Elon Musk sued by SEC for allegedly failing to disclose growing Twitter stake
Musk delayed 11 days in reporting his 5%+ Twitter stake in 2022, the SEC said.
The delay allegedly helped Musk to boost stake at a discounted price.
Musk underpaid $150M+ for his Twitter stake, per the SEC.
This lawsuit comes in Gary Gensler’s final week as SEC chief, who’s departing on Jan. 20.
Elf Labs has opened one final investment window at their current share price.
Why? Major enterprise partnerships are on the horizon that could significantly impact their valuation.
We're talking about a company that:
Secured 100+ historic trademark victories for beloved characters like Snow White and Cinderella
Is powered by next-gen technology protected by 12 patents for AR/VR tech (no headsets needed)
Is launching three major franchises in 2025, backed by a licensing team that has done over $6B in transactions
This "Lightning Round" extension is your final opportunity to invest at the current share price before these enterprise deals are announced.
* Disclosure: This is a paid advertisement for Elf Labs’ Regulation CF offering. Please read the offering circular at elflabs.com
3. TikTok said to block access, shut down immediately in U.S. on Jan. 19
Unless SCOTUS intervenes to block the ban.
“Planning for various scenarios,” TikTok reportedly said in an internal memo.
A pop-up message would be shown to existing TikTok users after the shutdown.
Option to download data would be given to users.
Complete turn off is not required by the law passed in 2024 to ban TikTok, suggesting that TikTok is doing this to create a public uproar in its favor.