The SEC is investigating Elon Musk's acquisition of Twitter over concerns that he violated federal securities laws. The SEC is looking into whether Musk disclosed his stake in Twitter promptly enough and whether he made false or misleading statements about his intentions for the company. The investigation could lead to civil or even criminal charges against Musk, as well as delay or derail the Twitter acquisition. If Musk is found to have violated securities laws, he could face fines, disgorgement of profits, and a bar from serving as an officer or director of a public company. The SEC could also seek to unwind the Twitter acquisition.