SEC acting chair voted against suing Elon Musk over Twitter stock disclosure

Acting SEC Chair Mark Uyeda reportedly voted against suing Elon Musk over his alleged failure to disclose Twitter stock ownership.

The acting chair of the US Securities and Exchange Commission has reportedly voted against the agency suing Elon Musk over the billionaire’s alleged securities violations concerning the disclosure of Twitter stocks. 

Citing anonymous sources, Reuters reported on March 24 that the SEC’s five commissioners conducted a vote on whether to sue Musk or not before the agency filed its lawsuit against the billionaire. 

Four commissioners voted in favor, while the lone dissent came from Mark Uyeda, who was appointed acting chair by US President Donald Trump on Jan. 20. SEC Commissioner Hester Peirce voted along with three other commissioners to sue Musk. 

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