Elon Musk is being sued by the federal government over the way he acquired Twitter.

Elon Musk’s Twitter acquisition has prompted a federal lawsuit filed by the Securities and Exchange Commission alleging he violated securities laws with late disclosures and saved himself $150 million in the process.

All of this was before Musk agreed to buy Twitter for $44 billion, before he tried to back out of that deal, before he was forced to complete it, before he changed his name to It starts when you acquire. A company’s shares on the public market.

The only problem the SEC noted at the time was that when he disclosed those shares, they were outside the 10-day period required by the agency. They argue he should have filed the documents by March 24, 2022, rather than April 4 (and again April 5), which is the date he actually filed them. During that period, he reportedly purchased more than $500 million worth of company stock.

But with only a few days left until the Trump administration takes over and appoints a new head of the SEC (Elon Musk has reportedly taken control of an office in the White House complex), it is unclear how far the lawsuit will go.

The SEC alleges that Musk caused investors at least $150 million in losses due to the late disclosure and harmed all investors who sold stock between March 25, 2022 and April 1, 2022 . The lawsuit seeks money Elon made as a result of the withholding. Disclosure may result in civil and other penalties.