NEW YORK, July 5 (Reuters) - Elon Musk wants to dismiss

a lawsuit by former Twitter shareholders who said he waited too

long in early 2022 to reveal his large ownership stake in the

social media company, saying "all indications" show his delay

was a mistake.

In a late Wednesday night filing in Manhattan federal court,

Musk called it implausible to believe he wanted to defraud

shareholders who didn't know he had taken a 9.2% Twitter stake,

and missed out on big gains because they sold their own stock.

Investors in the proposed class action said Musk and his

wealth manager Jared Birchall knew a U.S. Securities and

Exchange Commission rule required Musk to disclose by March 24,

2022 he had bought 5% of Twitter, yet waited another 11 days.

The investors said this let Musk buy more shares at cheap

prices, saving more than $200 million. Twitter, now known as X,

rose 27% on April 4, 2022 after Musk revealed his 9.2% stake.

Musk is the world's richest person according to Forbes

magazine, and runs other companies including electric car maker

Tesla

In his filing, Musk said he had intended to reveal his

Twitter stake at the end of 2022, but disclosed it promptly

after realizing he misunderstood the SEC disclosure rule.

"This is not a scheme to defraud," Musk said. "All

indications--including those in the pleadings--point to

mistake."

Musk also denied the investors' claim that an unnamed Morgan

Stanley ( MS ) banker helped devise a trading strategy to amass

Twitter shares without alerting the broader market.

Lawyers for the investors, who are led by an Oklahoma public

pension fund, did not immediately respond to requests for

comment on Friday.

Musk eventually bought San Francisco-based Twitter for $44

billion in October 2022. The SEC has also probed his Twitter

stock purchases.

Last September, U.S. District Judge Andrew Carter refused to

dismiss an earlier version of the lawsuit, finding evidence that

Musk understood the SEC disclosure and testified about it under

oath.

The case is Oklahoma Firefighters Pension and Retirement

System v Musk et al, U.S. District Court, Southern District of

New York, No. 22-03026.