The financial regulator ordered Musk to pay a civil penalty and remedies over alleged “unjust enrichment” ahead of his 2022 purchase of the social network.

The Securities and Exchange Commission sued Tesla CEO Elon Musk for allegedly delaying a disclosure of a stake in Twitter—allowing him to "underpay by at least $150 million for shares he purchased after his beneficial ownership report was due.

According to the SEC complaint, Musk didn’t follow disclosure rules, “allowing him to underpay by at least $150 million for shares he purchased after his financial beneficial ownership report was due.