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Elon Musk cannot move SEC's Twitter lawsuit out of Washington DC, judge rules
['Thu', 'October', 'At Pm Gmt', 'Min Read']
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By Jonathan Stempel(Reuters) -Elon Musk failed to persuade a Washington, D.C. federal judge to move a Securities and Exchange Commission lawsuit over his late disclosure of his growing Twitter stake to Texas, after saying he was too busy to defend himself in the nation's capital.
The SEC sued Musk in January, saying his 11-day delay in revealing his initial 5% Twitter stake in early 2022 let him buy more than $500 million of shares at artificially low prices.
It wants Musk to pay a civil fine and give up $150 million he allegedly saved at the expense of unsuspecting investors.
Sooknanan rejected Musk's alternative proposal to move the SEC case to Manhattan, where former Twitter shareholders are suing him.
The case is SEC v Musk, U.S. District Court, District of Columbia, No.