The U.S. Securities and Exchange Commission has sued Elon Musk, accusing him of violating securities laws during his forty-four billion dollar acquisition of Twitter, now called X.

The S.E.C. claims Musk delayed disclosing his stake in Twitter in twenty twenty-two, waiting eleven days after passing a five percent ownership threshold. This allegedly let him buy shares at a lower price, saving at least one hundred fifty million dollars. Musk’s lawyer, Alex Spiro, called the lawsuit a 'sham' and accused the S.E.C. of a 'multiyear campaign of harassment.'

This is the third legal clash between Musk and the agency, with past cases tied to his Tesla-related social media posts.

The lawsuit, filed as the Biden administration ends, raises questions about its future under the incoming Trump administration, given Musk’s close ties to Trump.

While some legal challenges may not be politically motivated, this one appears to be.