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Musk seeks dismissal of SEC lawsuit on Twitter stake
Financial Express Lucknow
|August 30, 2025
ELON MUSK HAS asked a federal judge to dismiss a US Securities and Exchange Commission lawsuit claiming he waited too long to disclose his purchases of Twitter shares in 2022, accusing the regulator of overreaching in order to punish him for criticizing it.
The SEC sued the billionaire in January, saying his 11-day delay in revealing his initial 5% Twitter stake let him buy more than $500 million worth of shares at low prices, saving himself $150 million at unsuspecting investors' expense.
It wants Musk, the world's richest person, to repay those savings and pay a civil fine.
In a filing late on Thursday night in the Washington, D.C. federal court, Musk maintained that the delay was inadvertent.
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