SEC sues Musk, alleging Twitter-related securities violation

The Securities and Exchange Commission (SEC) has sued tech billionaire Elon Musk, alleging he committed securities fraud by failing to disclose his ownership of Twitter.

According to the SEC complaint filed Tuesday in D.C. District Court, Musk withheld information that allowed him to underpay for the shares of Twitter he bought “after his financial beneficial ownership report was due.”

The SEC launched an investigation into Musk in April 2022 over his initial purchase of Twitter...