"AP Photo/Evan Vucci A federal judge emphatically rejected Elon Musk's attempt to move a case filed by the Securities and Exchange Commission against him from the District of Columbia to Texas or New York, scoffing at arguments from the billionaire that travel to D.C. would impose substantial burdens on him. The case arose from Musk's purchase of Twitter, Inc. common stock in 2022, which, according to the SEC, required Musk to file a disclosure report with the agency detailing his Twitter holdings."
"The SEC sued Musk in the U.S. District Court for the District of Columbia on Jan. 14 of this year for filing the required report late. The remedies sought in the SEC's complaint include a civil penalty and disgorgement. Musk filed a motion in August to transfer the case to the Western District of Texas, or in the alternative, the Southern District of New York."
A federal judge in D.C. denied Elon Musk's August motion to transfer an SEC lawsuit alleging a late disclosure after his 2022 purchase of Twitter stock. The SEC sued on Jan. 14 seeking civil penalties and disgorgement for a late required disclosure report. Musk sought transfer to the Western District of Texas or the Southern District of New York, citing travel burdens. Judge Sparkle L. Sooknanan applied 28 U.S.C. 1404(a), noting the threshold inquiry whether the case could have been brought in the proposed district and the subsequent balancing of private and public interest factors. The judge placed the burden on Musk and denied transfer in a 16-page opinion.
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