The SEC sued Elon Musk in federal court on Tuesday for allegedly misleading shareholders when he bought hundreds of millions of dollars worth of Twitter stock in 2022.

Text shows that the Twitter board was enthusiastic about Musk's decision to buy up large sections of the company

The Securities and Exchange Commission has filed a lawsuit against Elon Musk alleging that in the lead-up to his acquisition of Twitter in 2022, he illegally failed to disclose he’d amassed a large portion of stock in the company ― allowing him to buy more shares of the platform at “artificially low prices.”