Last week’s announcement that Elon Musk had purchased shares in Twitter should’ve been a simple matter of the Telsa and SpaceX founder purchasing shares and moving on. Unfortunately, as with anything related to Musk, it hasn’t been simple.

The latest development in the matter sees a Twitter shareholder suing Musk for failing to disclose his acquisition of Twitter shares when he started hoovering them up.

The lawsuit, as reported by Engadget, alleges that Musk began purchasing shares of Twitter in January 2022. By March 2022, Musk had acquired more than five percent stake in Twitter.

The lawsuit states that as a result of reaching this threshold, Musk should have filed a Schedule 13 with the Securities and Exchange Commission (SEC).

“Musk did not file a Schedule 13 with the SEC within the required time and instead continued to amass Twitter shares, eventually acquiring a 9.1 percent stake in the Company before finally filing a Schedule 13 on April 4, 2022,” the lawsuit reads.

By not filing this Schedule 13, very few folks would have known that Musk was buying up Twitter stock. The problem with this is that as the lawsuit points out, once it was public knowledge that Musk had purchased Twitter shares, the price shot up. On 1st April Twitter shares were worth $39.31 and after Musk filed his Schedule 13, it shot up 27 percent to $49.97.

“Investors who sold shares of Twitter stock between March 24, 2022 when Musk was required to have disclosed his Twitter ownership, and before the actual April 4, 2022 disclosure, missed the resulting share price increase as the market reacted to Musk’s purchases and were damaged thereby,” the lawsuit continues.

In addition, the lawsuit alleges that had Musk declared the purchase in March, he would have likely had to pay more for his shares.

Essentially, the lawsuit argues that Musk was allegedly able to purchase stock at an artificially deflated price while shareholders sold as the same artificially deflated price.

The lawsuit requests a jury trial as well as that Musk pay a variety of damages including covering the litigant’s legal costs.

With all of this, Musk walking away from a position on Twitter’s board of directors and potentially greater scrutiny from the likes of the SEC, this purchase really feels like more trouble than it’s worth.