The Securities and Exchange Commission filed a lawsuit against Elon Musk on Tuesday over an alleged securities violation relating to his acquisition of

The SEC alleges Elon Musk violated federal securities law by failing to disclose his more than 5% stake in Twitter on time.

The SEC alleges Musk failed to disclose his ownership of Twitter stock before buying the social media site in 2022.

The lawsuit accused Musk of misleading shareholders by not reporting his 2022 investment in the social-media company in a timely manner.

The SEC has sued billionaire X owner Elon Musk, alleging he failed to disclose his ownership of Twitter stock in a timely manner in 2022.

The Securities and Exchange Commission sued Elon Musk on Tuesday for allegedly committing securities fraud when he amassed a large share of Twitter stock in 2022 without following disclosure rules. In a lawsuit filed in federal court,

Musk ended up buying Twitter for $44bn in October 2022 and has since changed the platform's name to X. The complaint was submitted by the SEC to a federal court in Washington DC on Tuesday. The lawsuit also asked the court to order Musk to give up "unjust" profits and pay a fine.

The US Securities and Exchange Commission is suing Elon Musk, the owner of social media site X, alleging the world's richest man held off declaring his substantial purchase of Twitter shares in 2022.

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

The US Securities and Exchange Commission sued Elon Musk on Tuesday for failing to properly disclose his ownership of X, then known as Twitter, which allowed him to buy shares of the platform at “artificially low prices.