The US Securities and Exchange Commission (SEC) has filed a lawsuit against Elon Musk, accusing him of failing to disclose his large stake in Twitter within the required timeframe. Musk disclosed a 9.2% stake in Twitter on April 4, 2022, instead of March 24, 2022, as required by SEC rules. The SEC is seeking to make Musk pay a civil fine and disgorge undeserved profits. Some market stakeholders believe the lawsuit is an attack against Dogecoin (DOGE), as Musk has shown support for the meme coin. Despite the lawsuit, DOGE has seen a 4.14% increase in the past 24 hours.



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