Elon Musk was sued on Tuesday by the U.S. Securities and Exchange Commission, which accused the world's richest person of waiting too long to disclose in 2022 he had amassed a large stake in Twitter,

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 site.

"Musk underpaid Twitter investors by more than $150 million for his purchases of Twitter common stock during this period," the SEC said.

The SEC on Tuesday filed a suit against Elon Musk, alleging the billionaire violated securities law by acquiring Twitter shares at "artificially low prices."

The SEC says Musk failed to notify the agency when his Twitter stake crossed 5%, allowing him to buy more stock “at artificially low prices from the unsuspecting public.”

Elon Musk may be the top dog at SpaceX, Tesla, and X (formerly known as Twitter), but people have recently been accusing him of cheating and lying about his status as one of the top players in Diablo IV and Path of Exile 2.

The Securities and Exchange Commission sued Elon Musk on Tuesday for allegedly committing securities fraud when he amassed a large share of Twitter stock in 2022 without following disclosure rules. In a lawsuit filed in federal court,