The Securities and Exchange Commission has requested sanctions against Elon Musk for failing to appear in a deposition related to his 2022 Twitter acquisition, with the SEC investigating possible securities fraud in connection with the deal. Musk’s attorney argues that rescheduling was agreed upon due to an emergency, and Musk and his companies are cooperating with the SEC in other ongoing investigations. Additionally, Musk is facing a civil lawsuit in New York for allegedly concealing his investments in Twitter, with corresponding messages suggesting his buying strategy was closely held and unknown to others involved.
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Activist hedge fund Elliott builds stake in struggling BP
Activist hedge fund Elliott Management has acquired a stake in BP, prompting speculation of a potential takeover bid or activist shareholder intervention due to the company's financial underperformance and lack of strategic clarity. Elliott's increased individual bets and focus on strategic changes could lead to a push for BP to refocus on its core oil and gas business, potentially calling for a full break-up or business retrenchment. The firm, known for boardroom battles, has also...
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