Judge Denies Musk’s Move Against SEC in Twitter Purchase Case
A federal judge has rejected Elon Musk's attempt to dismiss an SEC lawsuit accusing him of delaying the disclosure of his Twitter share purchases in 2022. The SEC claims Musk's delay allowed him to purchase additional shares at lower prices, saving $150 million at investors' expense.
A federal judge has rejected Elon Musk's attempt to dismiss a lawsuit filed by the U.S. Securities and Exchange Commission (SEC), which claims he delayed disclosing his Twitter share purchases in 2022.
U.S. District Judge Sparkle Sooknanan in Washington, D.C., stated that Musk's arguments, including the assertion that the SEC was overreaching to punish him for criticism, did not justify dismissal. The SEC filed the lawsuit in January 2025, alleging that Musk's 11-day delay in revealing his 5% Twitter stake allowed him to buy over $500 million worth of shares at low prices.
The SEC seeks repayment of $150 million Musk allegedly saved, along with a civil fine. Musk, the world's richest individual, claims the delay was unintentional and argues that the SEC's case is "selective enforcement." Musk's legal team has not commented immediately on the ruling.
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