The Securities and Exchange Commission on Tuesday sued Elon Musk over allegations he misled shareholders about his Twitter stock purchases, escalating the agency’s long-simmering feud with the billionaire.

The SEC claims Musk cost investors at least $150 million due to the late disclosure and that he harmed any investors who sold stock between March 25th, 2022, and April 1st, 2022.

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.

The financial regulator ordered Musk to pay a civil penalty and remedies over what is alleged was “unjust enrichment.”

Elon Musk was sued on Tuesday by the U.S. Securities and Exchange Commission for having failed to timely disclose purchasing more than 5% of Twitter's common stock in March 2022.

The U.S. Securities and Exchange Commission has sued billionaire Elon Musk, saying he failed to disclose his ownership of Twitter stock in a timely manner in early 2022, before buying the social media

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.

The US markets watchdog has filed a lawsuit against Elon Musk alleging he failed to disclose that he had amassed a stake in Twitter, allowing him to buy shares at "artificially low prices." The Securities and Exchange Commission (SEC) lawsuit alleges that the multi-billionaire Tesla boss saved $150m (£123m) in share purchases as a result.

After a more than two-year investigation, the Securities and Exchange Commission has sued Elon Musk over his delayed disclosure of the Twitter stock he amassed before announcing his intention to acquire the company in 2022.