Adani tells US judge that the SEC’s fraud lawsuit should be dismissed

His lawyers argued that the charges brought by the Wall Street regulatory agency are "untenable" for various reasons. In a letter to a federal judge in Brooklyn, New York, the lawyer for the Indian billionaire and his nephew Sagar stated that they will formally seek to dismiss the case by the end of this month. The lawyers claim that the SEC lacks the necessary jurisdiction over the two individuals, and that the so-called "misleading statements" forming the basis of the case do not constitute grounds for prosecution. Expand