{"id":890,"date":"2025-10-03T14:29:30","date_gmt":"2025-10-03T14:29:30","guid":{"rendered":"https:\/\/globaltaalenthq.com\/?p=890"},"modified":"2025-10-06T08:53:13","modified_gmt":"2025-10-06T08:53:13","slug":"judge-rejects-musk-attempt-to-move-sec-case","status":"publish","type":"post","link":"https:\/\/globaltaalenthq.com\/index.php\/2025\/10\/03\/judge-rejects-musk-attempt-to-move-sec-case\/","title":{"rendered":"Judge rejects Musk attempt to move SEC case\u00a0"},"content":{"rendered":"

A federal judge on Thursday rejected billionaire Elon Musk\u2019s attempt to move a Securities and Exchange Commission (SEC) lawsuit over his failure to disclose<\/a> his stake in Twitter \u2014 the social platform now known as X \u2014 out of Washington, D.C.<\/p>\n

U.S. District Judge Sparkle Sooknanan denied Musk\u2019s request<\/a> to move the case to Texas or New York, finding that the tech mogul had failed to show that such a change of venue was warranted.\u00a0<\/p>\n

\u201cThe Court takes Mr. Musk\u2019s 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,\u201d Sooknanan noted. <\/p>\n

\u201cIndeed, although Mr. Musk may have \u2018rarely\u2019 traveled to this District in recent months, Mr. Musk\u2019s brief itself indicates that he has spent substantial time here this year,\u201d the judge added.<\/p>\n

The SEC sued<\/a> Musk in January, accusing him of violating securities laws by failing to disclose<\/a> his growing stake in the platform in early 2022, before purchasing the company.<\/p>\n

Musk, who acquired Twitter<\/a> for $44 billion in October 2022, did not disclose when his stake in the company exceeded 5 percent as required by law. He filed the forms a little more than a week later, by which point he owned more than 9 percent of shares.\u00a0<\/p>\n

The SEC alleges the Tesla and SpaceX CEO was able to continue purchasing stock at \u201cartificially low prices\u201d and underpaid investors by more than $150 million.  <\/p>\n

The judge’s denial marks the latest in a lengthy saga between Musk and the agency, which had been investigating his purchase of Twitter stock for several years. The agency previously took the billionaire to court over his failure to appear<\/a> at scheduled testimony in the probe.\u00a0<\/p>\n

The commission offered Musk a settlement<\/a> last December, giving him two days to accept a monetary payment or face charges, according to a letter from his attorney Alex Spiro to then-SEC Chair Gary Gensler. \u00a0<\/p>\n

The letter, which Musk shared to X, noted that they \u201ccategorically refused\u201d the offer. <\/p>\n","protected":false},"excerpt":{"rendered":"

A federal judge on Thursday rejected billionaire Elon Musk\u2019s attempt to move a Securities and Exchange Commission (SEC) ...<\/p>","protected":false},"author":1,"featured_media":892,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[7],"tags":[],"_links":{"self":[{"href":"https:\/\/globaltaalenthq.com\/index.php\/wp-json\/wp\/v2\/posts\/890"}],"collection":[{"href":"https:\/\/globaltaalenthq.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globaltaalenthq.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globaltaalenthq.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/globaltaalenthq.com\/index.php\/wp-json\/wp\/v2\/comments?post=890"}],"version-history":[{"count":1,"href":"https:\/\/globaltaalenthq.com\/index.php\/wp-json\/wp\/v2\/posts\/890\/revisions"}],"predecessor-version":[{"id":891,"href":"https:\/\/globaltaalenthq.com\/index.php\/wp-json\/wp\/v2\/posts\/890\/revisions\/891"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/globaltaalenthq.com\/index.php\/wp-json\/wp\/v2\/media\/892"}],"wp:attachment":[{"href":"https:\/\/globaltaalenthq.com\/index.php\/wp-json\/wp\/v2\/media?parent=890"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globaltaalenthq.com\/index.php\/wp-json\/wp\/v2\/categories?post=890"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globaltaalenthq.com\/index.php\/wp-json\/wp\/v2\/tags?post=890"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}