The Security and Exchange Commission (SEC) filed a lawsuit against Elon Musk, owner of social media giant X (formerly known as Twitter), on January 14 in a federal court in Washington, D.

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

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 US Securities and Exchange Commission sues Elon Musk saying he failed to disclose Twitter ownership in a timely manner. View on euronews

The Securities and Exchange Commission sued tech billionaire Elon Musk on Tuesday, accusing him of securities fraud linked to his $44 billion takeover of Twitter, now known as X. The SEC specifically accused Musk of failing to disclose his ownership stake ...

The SEC said the delay allowed Musk to continue buying Twitter shares at artificially low prices, allowing him to underpay by at least $150 million.

The SEC sued Elon Musk in federal court on Tuesday for allegedly misleading shareholders when he bought hundreds of millions of dollars worth of Twitter stock 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.

Text shows that the Twitter board was enthusiastic about Musk's decision to buy up large sections of the company

Twitter's stock price rose 27 percent once Musk belatedly disclosed his stake, the lawsuit said. "During the period that Musk was required to publicly disclose his beneficial ownership but had failed to do so, he spent more than $500 million purchasing additional shares of Twitter common stock," it said.

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.

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.