By BARBARA ORTUTAY The U.S. Securities and Exchange Commission has sued billionaire Elon Musk, saying he failed to disclose his ownership of Twitter stock in a timely manner in early 2022, before buying the social media site. Related Articles National News | Biden announces 2 new national monuments in California after wildfires scuttled previous event National News | Obesity won’t be solely defined by BMI under new plan for diagnosis by global experts National News | Lawyers for Sean ‘Diddy’ Combs say sex acts are distorted by ‘sexist and puritanical’ prosecution National News | Daily News, NY Times ask NY judge to reject OpenAI, Microsoft challenges to copyright suit National News | New Jersey to stockpile abortion pills ahead of Trump’s return to office As a result, the SEC alleges, Musk was able to underpay “by at least $150 million” for shares he bought after he should have disclosed his ownership of more than 5% of Twitter’s shares.