US EditionJudge rejects Musk attempt to move SEC case
Judge ruled Musk must face SEC lawsuit in Washington, D.C., rejecting his claim of inconvenience despite spending 40% of time outside the district, court records show.
- A federal judge denied Elon Musk's request to move a Securities and Exchange Commission case from Washington, D.C. to Texas or New York, stating his arguments were lacking.
- The SEC sued Musk for not disclosing his 5 percent stake in Twitter within the required time frame in 2022.
- Judge Sparkle L. Sooknanan noted Musk's significant means and frequent travel, which undermined his claims of burden.
- The SEC seeks a civil penalty against Musk for the alleged violation, as he allegedly saved $150 million at the expense of investors.
15 Articles
15 Articles
Judge rejects Musk attempt to move SEC case
A federal judge on Thursday rejected billionaire Elon Musk’s attempt to move a Securities and Exchange Commission (SEC) lawsuit over his failure to disclose his stake in Twitter — the social platform now known as X — out of Washington, D.C. U.S. District Judge Sparkle Sooknanan denied Musk’s request to move the case to Texas…
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The Daily BeastJudge Denies Elon’s Attempt to Move Twitter Lawsuit Out of D.C.
Tech billionaire Elon Musk has failed to convince a federal judge to relocate a lawsuit over his stake in Twitter from Washington to Texas to suit his busy schedule. The former DOGE director was sued by the Securities and Exchange Commission in January, claiming an 11-day delay in revealing his initial five percent stake in Twitter in 2022 allowed him to buy shares priced at over $500 million at artificially low prices. Musk, who lives in Austin…
Federal judge rules SEC case against Elon Musk must remain in Washington DC
The SEC sued Musk in January, accusing him of allegedly failing to properly disclose that he purchased Twitter stock in 2022, before he purchased the company, thereby allegedly underpaying its investors.
Judge Smacks Down Elon Musk’s Attempt to Transfer SEC Case to Friendlier State
AP Photo/Evan Vucci A federal judge emphatically rejected Elon Musk’s attempt to move a case filed by the Securities and Exchange Commission against him from the District of Columbia to Texas or New York, scoffing at arguments from the billionaire that travel to D.C. would impose “substantial burdens” on him. The case arose from Musk’s purchase of Twitter, Inc. common stock in 2022, which, according to the SEC, required Musk to file a disclosure…
Elon Musk being ‘incredibly busy’ not enough to relocate case to Texas, judge rules
Elon Musk failed to persuade a Washington, DC, federal judge to move a Securities and Exchange Commission lawsuit over his late disclosure of his growing Twitter stake to Texas.
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