The lawsuit against Mr. Musk is likely to be one of the more contentious final acts of the Securities and Exchange Commission under the direction of Gary Gensler, its departing chair.
The S.E.C. contends that in buying Twitter in 2022, Mr. Musk violated securities laws by amassing a large stock position in the company without filing the proper notification.
Over the past few weeks, Mr. Musk had taunted the S.E.C. in posts on X about the potential for filing a lawsuit, indicating a longstanding tension.
This is the third time the S.E.C. has gone to court with Mr. Musk, highlighting a recurring conflict between the agency and the entrepreneur.
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