Elon Musk is being sued by the U.S. Securities and Exchange Commission over his alleged failure to provide financial statements about his stock ownership before purchasing the social media company Twitter, now called X.

The events in question stem from his 2022 purchase. The Tesla and SpaceX CEO is accused of failing to disclose ownership of a significant amount of stock in Twitter before he bought the company. Musk’s inability to provide this information promptly was allegedly a rule violation.