Former SEC Chairman Harvey Pitt warns the government could intervene to stop Elon Musk's Twitter takeover.
"This latest effort sort of proves that he acquired his shares but filed the wrong form. When he filed the correct form, he filed it late," Pitt explained. "Those filings are important. There were shareholders who sold in the misguided belief that he was just the passive investor when in fact, he's not.
"Pitt also questioned the validity of Musk’s"If it's real, then I think that there is a serious argument to be made that this is something that the board will have to consider fairly," he noted."My own view is that, after Musk attacking the board, they will find all sorts of reasons to claim this offer is not in the best interests of Twitter's shareholders," Pitt admitted.
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