Musk's legal representative Alex Spiro dismissed the SEC's case as a tiny procedural point and called it a 'ticky tack complaint' saying that the agency's why harassment.' Musk ['s] actions are the opposite of overreach, said Spiro, and he had 'done nothing wrong.'

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.

The lawsuit accused Musk of misleading shareholders by not reporting his 2022 investment in the social-media company in a timely manner.