Musk Loses Bid to Move SEC Suit Over Twitter Stake to Texas
Elon Musk's attempt to move a lawsuit filed by the US Securities and Exchange Commission (SEC) over his 2022 Twitter stake disclosure to a Texas court has been rejected by a federal judge. The SEC alleged that Musk was late in disclosing his stake in the social media platform. The judge ruled that the case should remain in the Southern District of New York, where the SEC had initially filed the lawsuit. The decision is a setback for Musk, who had sought to have the case heard in a jurisdiction that is generally seen as more favorable to his interests. The SEC's lawsuit is part of an ongoing legal battle between Musk and the agency over his social media activities and disclosures, which have previously drawn scrutiny and regulatory action.
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