Feb 3 (Reuters) - A federal judge on Tuesday rejected Elon Musk's bid to dismiss a U.S. Securities and Exchange Commission lawsuit that claimed he waited too long to disclose his purchases of Twitter shares in 2022.
Washington, D.C.-based U.S. District Judge Sparkle Sooknanan said Musk's arguments, including that the SEC overreached in order to punish him for criticizing it, did not warrant dismissal.
The SEC sued Musk in January 2025, saying his 11-day delay in revealing his initial 5% Twitter stake let him buy more than $500 million of shares at low prices. It wants Musk to repay the $150 million he allegedly saved at the expense of unsuspecting investors, plus a civil fine.
Musk, the world's richest person, has said the delay was inadvertent, and that the SEC's case amounted to "selective enforcement."
Lawyers for Musk did not immediately respond to requests for comment.
(Reporting by Jonathan Stempel in New York; Editing by Will Dunham)
