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The Securities and Exchange Commission confirmed it is looking into the timing of when Elon Musk notified the market that he had bought 5% of Twitter Inc. stock.
The SEC, in a Friday filing, published a letter sent to Mr. Musk, dated April 4, asking why he didn’t make the required filing within 10 days of crossing the 5% threshold. Mr. Musk’s holdings topped 5% on March 14, securities filings show, and he announced the size of his stake in a filing April 4, by which time it topped 9%.
