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

Tesla stock was sliding on Tuesday, giving up some of the gains it made the previous session thanks to CEO Elon Musk’s new multibillion-dollar pay package. Shares of the electric-vehicle maker slid 0.

Tesla's board approved a compensation package for Elon Musk worth about $29 billion in order to keep the chief executive focused on the company.