Elon Musk is being sued by the U.S. Securities and Exchange Commission, claiming he didn't disclose purchases of Twitter stock in 2022 immediately, allowing him to underpay.

Katie Barlow discusses the Securities and Exchange Commission recently suing Elon Musk over his purchase of social media app, Twitter.

The U.S. Securities and Exchange Commission has sued billionaire Elon Musk, saying he failed to disclose his ownership of Twitter stock in a timely manner in early 2022, before buying the social media

The U.S. Securities and Exchange Commission is suing Elon Musk for allegedly failing to properly disclose his purchase of Twitter shares before buying the company, currently known as X.

The U.S. SEC sued Elon Musk on Tuesday, claiming he committed securities fraud by buying shares of Twitter at "artificially low prices."

Regulators filed a lawsuit in federal court stemming from Mr. Musk’s $44 billion purchase of the social media company now called X.

The charges even have an added advantage of driving a wedge between Trump’s new SEC chair, Paul ­Atkins, and his enforcement staff that investigated the matter if ­Atkins raises these issues and looks to dismiss or impose a slap-on-the-wrist penalty.

The Securities Exchange Commission has filed suit against Elon Musk, alleging that he violated securities law.

Musk, who bought Twitter in October 2022 and renamed it X, had started amassing shares earlier that year. His ownership amounted to more than 5% by March, requiring him to file a disclosure report. The SEC says the report was 11 days late, allowing Musk to "underpay by at least $150 million” for shares purchased before he disclosed his stake.

After boosting Donld Trump through extreme sycophancy, turning Twitter into the red-pilled X, and dousing the once-and-future president with $239 million in campaign contributions, Musk earned himself a starring role in Trump’s second administration. But he didn’t want to be a secretary of anything; rather, he wanted DOGE.

The Securities and Exchange Commission, which is responsible for enforcing laws against market manipulation, says the SpaceX and Tesla CEO ignored the deadline.

The has SEC said that starting in April 2022, it authorized an investigation into whether any securities laws were broken in connection with Musk’s purchases of Twitter stock and his statements and SEC filings related to the company.