Overview

• The filing asks a Washington, D.C., federal judge to throw out the SEC’s January 14, 2025 complaint over Musk’s 2022 Twitter stake disclosure.
• Regulators allege Musk crossed the 5% ownership threshold in March 2022 yet waited 11 days past the 10-day deadline to disclose, enabling additional purchases at what they call artificially low prices.
• The SEC says Musk bought more than $500 million in extra shares before revealing a 9.2% stake on April 4, 2022 and seeks civil fines and disgorgement.
• Musk’s lawyers say he halted buying and filed one business day after his wealth manager consulted disclosure counsel, arguing there was no intent, no ongoing violation, and no investor harm.
• Coverage of the complaint notes claims that sellers were underpaid by roughly $150 million and that Twitter’s stock jumped after the stake became public, with the court now set to weigh the dismissal motion.