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

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

The SEC issued a settlement demand to Elon Musk, alleging potential securities fraud linked to his 2022 purchases and sales of Tesla and Twitter shares. Musk's attorney accused the agency of a six-year campaign of harassment and claimed the SEC pressured Musk to agree to a settlement within forty-eight hours. The probe focuses on Musk’s disclosures during his acquisition of Twitter, now X. A source revealed that the SEC recently sent Elon Musk a settlement offer, allowing more than forty-eight hours to respond. If no agreement is reached, the SEC may issue a Wells Notice before deciding whether to pursue charges.

Elon Musk has been sued by federal regulators, who say he violated securities law by failing to properly disclose his purchase of Twitter shares, which they allege were bought at "artificially low prices," according to a report. The Securities and Exchange Commission, or SEC, sued the MAGA tech billionaire Tuesday, CNBC reported.

Billionaire Elon Musk has been sued by the US Securities and Exchange Commission over his Twitter purchase after he allegedly failed it disclose his stocks, allowing him to save 'at least $150 million.'