Elon Musk’s Request to Move Twitter Case Denied

Elon Musk’s attempt to persuade a federal judge in Washington, D.C., to shift his Twitter shares from Texas was unsuccessful. He argued that he was too occupied with legal defenses in the nation’s capital.

U.S. District Judge Sparkle Sooknanan acknowledged Musk’s busy schedule but noted that even someone as wealthy as him must balance their time, especially since he spends around 40% of it outside Texas.

In her ruling, she pointed out, “Mr. Musk’s own brief indicates he has spent considerable time here this year,” referring to his involvement in government efficiency initiatives.

Sooknanan also highlighted that judges in Texas are dealing with larger caseloads and that her courtroom could handle proceedings effectively.

In his push to move the case, Musk described himself as an “incredibly busy individual,” claiming he often puts in over 80 hours a week, sometimes sleeping at offices or factories. He suggested that dealing with a lawsuit in Washington would impose a significant burden on him.

There was no immediate response from Musk’s legal team when reached for comments.

A spokesperson from the SEC chose not to comment, citing the ongoing government closure.

In a separate development, Musk’s fortune reportedly surpassed $500 billion recently.

The SEC had filed a lawsuit against Musk in January, alleging that a delay in revealing his initial 5% Twitter shares back in early 2022 led to him artificially inflating his stock purchases by over $500 million at lower prices.

The SEC is hoping to impose civil fines on Musk and demand he relinquish the $150 million he profited at the expense of unaware investors.

Musk is reportedly inclined to dismiss this case. He fully acquired Twitter for $44 billion in October 2022, later rebranding it as X.

Despite his requests, Sooknanan previously rejected a suggestion to relocate the SEC case to Manhattan, where some former Twitter shareholders have initiated lawsuits against him.