Tech billionaire Elon Musk is seeking to dismiss a Securities and Exchange Commission (SEC) lawsuit claiming he waited too long to disclose his growing share in Twitter, the social platform now called X.
“The SEC’s allegations, even accepted as true, make clear that Mr. Musk allegedly late-filed a single beneficial ownership form by a matter of days in 2022. The SEC does not allege that Mr. Musk acted intentionally, deliberately, willfully, or even recklessly. The SEC does not allege that Mr. Musk caused any investor harm,” Musk’s lawyers said in a Thursday 60-page filing.
“Rather, the SEC alleges that Mr. Musk late-filed a single beneficial ownership form three years ago, and fully corrected any alleged error immediately upon its discovery. There is no ongoing violation. There is no int