The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Elon Musk, alleging that he violated securities laws by failing to disclose his acquisition of a significant stake in Twitter (now X) in a timely manner. The complaint, filed in a Washington, D.C. federal court on January 14, claims Musk’s delay in reporting his 5% ownership of Twitter shares allowed him to purchase additional stock at artificially low prices, saving at least $150 million.

According to the SEC, Musk crossed the 5% ownership threshold on March 14, 2022, but did not file the required…