Musk Seeks Dismissal of Lawsuit Over His $7.5 Billion Tesla Stock Sale

Elon Musk urged a Delaware judge to toss an investor lawsuit alleging he improperly sold more than $7.5 billion in Tesla Inc. shares after receiving inside information that the carmaker would miss its production and delivery targets in 2022.

Lawyers for Musk, the world’s richest person, argued in a filing Monday that the lawsuit by an investor, Michael Perry, was filed improperly in Delaware Chancery Court because Tesla last year moved its state of incorporation to Texas. They also disputed Perry’s claims Tesla directors are beholden to Musk and allowed him to wrongfully benefit from the company’s struggles.