08:17 AM EDT, 08/29/2025 (MT Newswires) -- Elon Musk filed a motion Thursday seeking to dismiss a US Securities and Exchange Commission lawsuit accusing him of delaying in 2022 the disclosure of his Twitter stake, according to a court filing.

The SEC alleges in its complaint that Musk, who is also Tesla (TSLA) chief executive, violated securities laws by waiting 11 days too long to report that he had crossed the 5% ownership threshold in Twitter.

The delay allegedly allowed him to buy more shares at "artificially low" prices before the information became public.

According to the filing, Musk immediately halted further share purchases and submitted the necessary disclosure the next business day after his wealth manager consulted disclosure counsel about filing requirements.

"The SEC does not allege that Mr. Musk acted intentionally, deliberately, willfully, or even recklessly," the court filing said. "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."

The SEC did not immediately respond to MT Newswires' request for comment.