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.

The US Securities and Exchange Commission said the billionaire failed to properly disclose the stake he had in Twitter before he bought the site.

The future of TikTok hangs in the balance this week as the Supreme Court of the United States (SCOTUS) prepares to issue a verdict on banning the platform. For months, speculation has been rising about what will become of the popular content creation app that has launched many viral videos and created entire careers.

TikTok’s U.S. operations might soon have a new owner - Elon Musk. Chinese officials are said to be considering allowing the sale of the social network to the billionaire.

Americans are going to lose access to TikTok in less than a week, unless China green-lights a sale to what Congress has deemed a non-adversary of the United States — something China is unlikely to do but might.