US SEC Files Lawsuit Against Musk Ahead Of Trump Inauguration

Washington: Just days ahead of Donald Trump’s inauguration as the 47th US President, the Securities and Exchange Commission (SEC) has filed a lawsuit against his best ally Elon Musk over an alleged securities violation relating to his acquisition of Twitter (now called X) in 2022. The SEC lawsuit alleged that the tech billionaire “failed to disclose his 5 per cent ownership stake of Twitter in a timely manner,” violating federal securities law.