Judge Rejects Elon Musk's Bid to Move SEC Twitter Lawsuit from Washington to Texas

A federal judge, Sparkle L. Sooknanan, rejected Elon Musk's attempts to transfer a Securities and Exchange Commission (SEC) lawsuit from Washington, D.C., to Texas or New York. The SEC alleges Musk delayed disclosing his increasing Twitter stake in early 2022, allowing him to purchase additional shares at lower prices and saving approximately $150 million. Musk argued that litigating in D.C. would impose substantial burdens due to his demanding schedule and business commitments in Texas, but the judge found his wealth, frequent travel, and time spent in D.C. contradicted claims of undue hardship. The court emphasized that Texas courts handle higher caseloads and that the D.C. court could proceed efficiently. Musk also sought to move the case to Manhattan, where he faces related shareholder litigation, but this request was denied. Musk denies wrongdoing and is seeking dismissal of the case, while the SEC pursues civil penalties and disgorgement.