Judge Rejects Musk’s Request to Move SEC Twitter Lawsuit to Texas

A federal judge has rejected Elon Musk‘s effort to transfer a lawsuit filed by the U.S. Securities and Exchange Commission (SEC) from Washington, D.C., to Texas. The case involves allegations that Musk failed to disclose his purchase of a significant stake in Twitter Inc. in a timely manner.

The decision was issued by U.S. District Judge Sparkle Sooknanan, who noted that Musk spends a substantial amount of time outside Texas and has the resources to attend court in Washington. According to the judge, “The Court takes Mr. Musk’s convenience seriously, but it also notes that Mr. Musk has considerable means and spends at least forty percent of his time outside his chosen forum,” as reported by Bloomberg.

Twitter, which has since been rebranded as X and is now part of xAI, was purchased by Musk for $44 billion more than two years ago. The SEC initiated legal action against Musk in January, shortly before the conclusion of President Donald Trump’s administration.

The SEC claims that Musk did not adhere to regulations requiring early disclosure of large purchases of publicly traded company shares. These rules aim to ensure transparency for investors in the market. The case will move forward in Washington, D.C., following the court’s ruling.

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