History of SEC investigation into the acquisition of Twitter by Elon Musk in Timeline

By Popular Timelines Editorial Team · Updated: April 23, 2026

SEC investigation into the acquisition of Twitter by Elon Musk

The SEC is investigating Elon Musk regarding his acquisition of Twitter, starting in May 2022. The probe focuses on several potential securities violations. Firstly, the lateness in disclosing his acquisition of a 9.2% stake in Twitter on April 4, 2022, which was 21 days after the legal deadline. Secondly, the SEC is questioning Musk's decision to file a 13G form rather than a 13D, the latter is required for investors intending to actively influence the company. Finally, the inquiry includes an examination of whether Musk's tweets related to his takeover bid should have been disclosed as material changes to his intentions.

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Full Timeline

1934: Securities Exchange Act Enacted

In 1934, the Securities Exchange Act was passed, establishing regulations that require investors to report beneficial ownership of equity securities, such as stocks, once they acquire more than 5% of a class of securities.

January 31, 2022: Musk Begins Purchasing Twitter Stock

On January 31, 2022, Elon Musk began purchasing stock in Twitter, initiating his involvement with the company that would eventually lead to a full acquisition.

March 14, 2022: Musk Crosses 5% Ownership Threshold

On March 14, 2022, Elon Musk crossed the 5% ownership threshold in Twitter stock, triggering the requirement to file a Schedule 13D form within 10 days, which he failed to do in a timely manner.

April 4, 2022: Musk's Late Disclosure of Twitter Stake

On April 4, 2022, Elon Musk disclosed his 9.2% position in Twitter, 21 days after the legal deadline. This late disclosure became a focal point of the SEC investigation.

May 2022: Musk Sued by Twitter Shareholders

In May 2022, Twitter shareholders sued Elon Musk, accusing him of market manipulation and purchasing Twitter stock at artificially low prices, escalating the legal challenges surrounding his acquisition.

May 2022: SEC Investigation into Musk's Twitter Purchase Begins

In May 2022, the Securities and Exchange Commission (SEC) began investigating Elon Musk's purchase of Twitter, focusing on his late disclosure of a significant stake in the company and the type of filing used.

2022: Musk Testifies and SEC Seeks Additional Testimony

In 2022, Elon Musk provided documents and testified twice for the SEC, leading the agency to request additional testimony from him as part of their ongoing investigation.

September 15, 2023: Musk Fails to Appear for SEC Testimony

On September 15, 2023, Elon Musk was scheduled to appear for testimony in San Francisco under an investigative subpoena but failed to do so, further complicating the SEC's investigation.

February 12, 2024: Judge Orders Musk to Testify

On February 12, 2024, Magistrate Judge Laurel Beeler ordered Elon Musk to testify in San Francisco after he and the SEC failed to agree on a deposition date, marking another legal hurdle in the investigation.

January 14, 2025: SEC Sues Musk Over Twitter Securities Violations

On January 14, 2025, the SEC sued Elon Musk for Twitter-related securities violations, alleging improper disclosure of ownership and underbuying stock, escalating the legal battle between Musk and the agency.

January 2025: SEC Sues Musk Over Twitter Acquisition

In January 2025, the SEC filed a lawsuit against Elon Musk related to securities violations stemming from his acquisition of Twitter, marking a significant escalation in the ongoing investigation.