SEC sues Elon Musk for alleged failure to file timely disclosure of Twitter share purchases

15 Jan 2025, 03:33 by Sheri Walsh · UPI

Jan. 14 (UPI) -- 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 SEC filed the lawsuit Tuesday, less than a week before President-elect Donald Trump's inauguration and Musk's new role as co-leader of the proposed Department of Government Efficiency, or DOGE, presidential advisory committee.