Regulators refuse to investigate anti-Slim activist group

Susana Gonzalez | Bloomberg | Getty Images

California regulators have declined to investigate an activist group behind protests against Telecom billionaire Carlos Slim, citing insufficient evidence.

Slim's U.S.-based pre-paid phone company, Tracfone, had asked the California Fair Political Practices Commission to investigate "Two Countries, One Voice," for failure to file lobbying reports.

In its complaint to the state's regulators, Tracfone's lawyers suggested that "Two Countries, One Voice" was not a grass-roots organization but rather an "astro-turf" organization—lobbying vernacular for groups that are backed financially by a vested interest of some sort.

A representative of the group told CNBC that the allegation was false when the complaint was filed.

The group has launched protests against Slim in California, Washington, New York and Las Vegas. For more details anti-Slim protests, read here.

At an appearance by Slim at the New York Public Library in the Spring, the group played the Darth Vader theme on kazoos before walking out of the event in a long march.

—By CNBC's Michelle Caruso-Cabrera. Follow her on Twitter: @MCaruso_Cabrera