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The Securities and Exchange Commission has launched a probe into Elon Musk after he delayed reporting his large stake in Twitter, a move that might have saved him millions of dollars, the Wall Street Journal reported Wednesday—as Musk seeks to purchase Twitter.

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The Journal attributed news of the SEC investigation, which has not been publicly confirmed by regulators, to anonymous people familiar with the matter.

Musk acquired a 5% stake in Twitter by March 14, but did not report it to the SEC until April 4, missing the regulatory agency’s 10-day disclosure deadline by more than a week.

After reaching 5% ownership, Musk continued to buy Twitter stock at relatively low prices before publicly disclosing his eventual 9.2% stake in the company in an SEC filing, after which the company’s share price leapt about 27% to $49.97 in one day.

Musk probably saved over $143 million by delaying his disclosure, though it remains to be seen whether the SEC will bring civil charges against Musk, University of Pennsylvania accounting professor Daniel Taylor told the Journal,

Last month, a Twitter shareholder sued Musk over the reporting issue, alleging the billionaire Tesla CEO had cheated shareholders who sold stock in between when Musk acquired 5% ownership and when he filed a disclosure form with the SEC.

Musk currently owns a 9.2% stake in Twitter, and the company’s board accepted his offer to buy Twitter outright for $44 billion.

The SEC declined to comment on the reported probe to Forbesand a representative for Musk did not immediately respond to a request for comment.