Disclosing

India’s market regulator fined Reliance and two of its officers on Monday for not properly disclosing Facebook’s $5.7 billion investment into Jio Platforms in April 2020. The Securities and Exchange Board of India said that media had reported about the then-impending deal in March itself, which prompted the shares of the group company to rise. (Some inside baseball: Financial Times broke the news in March that Meta, then called Facebook, was in advanced stages of talks to make a multibillion…

India's market regulator on Monday fined Reliance Industries and two of its compliance officers for violating fair disclosure norms during Facebook's $5.7 billion (nearly Rs. 44,400 crore) investment in its digital unit in 2020.In April 2020, Meta's Facebook invested $5.7 billion in Reliance's Jio, aiming to allow WhatsApp to offer payments services to millions of small businesses. The deal helped billionaire Mukesh Ambani's Reliance slash its heavy debt load.The Securities and Exchange Board of India (SEBI) said Reliance…

By David Yaffe-Bellany, The New York Times Company Logan Paul had a message for his 6 million Twitter followers: He was “all in” on a new cryptocurrency called Dink Doink. According to the project’s creator, Dink Doink investors would receive shares of a cartoon character, entitling them to a portion of the proceeds if the googly-eyed figure ever appeared in a TV show or movie. Last June, Paul, a 27-year-old boxer and social-media influencer, praised Dink Doink on Twitter and in a public Telegram chat, before endorsing it…

Photo: rafapress (Shutterstock)Events surrounding the purchase of Twitter are growing ever-more complicated, and it seems like by the end of this adventure, neither Tesla CEO Elon Musk nor the Twitter board will walk away unscathed.The Securities and Exchange Commission revealed Friday that it has long been investigating whether Musk had properly relayed his intentions with Twitter. The agency’s regulatory filings included a letter sent to Musk April 4 that asked for clarification on multiple discrepancies found in Musk’s…

US regulators are investigating Elon Musk's delayed disclosure of his sizable stake in Twitter last month, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.Musk disclosed a 9.2 percent stake in Twitter to the US Securities and Exchange Commission (SEC) on April 4, a delay of at least 10 days since surpassing the 5 percent threshold for revealing a shareholding, the report said.An investor who crosses a 5 percent stake must file a form with the SEC within 10 days. It serves as an early…

Elon Musk was sued on Tuesday by former Twitter shareholders who claim they missed out on the recent run-up in its stock price because he waited too long to disclose a 9.2 percent stake in the social media company.In a proposed class action filed in Manhattan federal court, the shareholders said Musk, the chief executive of electric car company Tesla Inc, made "materially false and misleading statements and omissions" by failing to reveal he had invested in Twitter by March 24 as required under federal law.Twitter shares…