Elon Musk is trying to dismiss a case by American regulators, alleging that she extended her early investment in Twitter too late.
US Securities and Exchange Commission (SEC) said In January 1 complaint The musk failed to disclose that it had formed its stake in the company within the regulator’s time limit.
It said that it had allowed him to save about $ $ 150m (£ 123m) by purchasing shares in Twitter – which he bought a lump sum after months and changed the name of X to “artificially low prices”.
Musk’s lawyers filed a lawsuit shortly before the court’s deadline for their response, calling the case “waste of this court and taxpayer resources”.
“SEC did not allege that Mr. Musk had damaged any investor. Rather, SEC alleged that Mr. Musk filed the same beneficial ownership form late three years ago, and completely correct any alleged error immediately after his discovery,” he said in the filing on Thursday.
“There is no violation. No intention. No loss.”
In its January complaint, the SEC alleged that Musk violated the rules of American securities, in which investors needed to disclose within 10 days, if their holding in a company exceeds 5%.
It said that Musk would have come to know that he had crossed the threshold for disclosure of shares by 14 March 2022, but on April 4 – he did not disclose it 21 days after his purchase.
“Investors suffered adequate financial loss as a result of the violation of Musk,” claimed.
During a pre -examination by SEC in Twitter purchase by Musk, he gave two deposits – Around the mystery what he appeared in another interview,
When the SEC filed its suit in January, Musk exploded the regulator as a “completely broken organization” on social media and accused him of wasting his time.
His lawyer Formal reactionPresented on Thursday, he also accused the SEC of targeting the executive in “tireless chase”.
“The Commission’s selective enforcement against Mr. Musk – 1,500 times more monetary relief demands in equally located persons in equal cases – an agency discovers that an individual targets a person for his protected criticism of the government’s overache,” said this.
It said that another investigation initiated by the Watchdog in the last seven years – in which it was eventually A tweet was approved by the jury of wrongdoing on a tweet about the future of Tesla’s ownership – reflected “tireless investigation”.
The BBC has approached the SEC for the response.
