Elon Musk sued by SEC for late disclosure of Twitter stock purchase

The U.S. Securities and Exchange Commission (SEC) has sued Elon Musk, alleging that the billionaire failed to disclose his acquisition of Twitter stocks within the legally required timeframe in 2022. The most surprising aspect of this lawsuit is that it took so long to arrive.

Filed in the District Court of Columbia on Tuesday, the lawsuit concerns Musk's actions in the lead up to his reluctant $44 billion purchase of microblogging platform Twitter three years ago (which he has since rebranded to X).