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 sued Elon Musk on Tuesday for failing to properly disclose his ownership of X, then known as Twitter, which allowed him to buy shares of the platform at “artificially low prices.

The U.S. Securities and Exchange Commission (SEC) has sued Elon Musk, alleging that the billionaire failed to disclose his acquisition of Twitter stocks within the legally required timeframe in 2022. The most surprising aspect of this lawsuit is that it took so long to arrive.

TikTok’s U.S. operations might soon have a new owner - Elon Musk. Chinese officials are said to be considering allowing the sale of the social network to the billionaire.

Americans are going to lose access to TikTok in less than a week, unless China green-lights a sale to what Congress has deemed a non-adversary of the United States — something China is unlikely to do but might.