SEC Sues Musk for Cheating Twitter Shareholders

In late March 2022, Elon Musk exceeded a 5% ownership threshold in Twitter but delayed reporting it, continuing to buy shares. The SEC claims this delay affected share prices, potentially disadvantaging shareholders. Musk's lawyer argues that such reporting delays typically incur nominal fees. With a new SEC chair, Paul Atkins, known for his business-friendly stance, the outcome remains uncertain.

What argument did Musk's lawyer make regarding missed deadlines?

Who is the new SEC chair mentioned in the text, and what is his stance towards Wall Street?