The Securities and Change Fee is making ready “quite a few counts” towards Elon Musk, in response to a letter from his lawyer that Musk posted to X. It has additionally “reopened an investigation into Neuralink.”
The letter is brief on specifics — corresponding to what the costs could also be, and what number of Musk corporations are affected. As a substitute, Musk’s lawyer, Alex Spiro, complains that “the Fee Workers issued a settlement demand that required Mr. Musk agree inside 48 hours to both settle for a financial cost or face costs on quite a few accounts.” Even that is considerably unclear; presumably, Spiro signifies that Musk would pay a penalty fairly than settle for cash from the SEC.
The letter characterizes this historical past as “greater than six years of harassment.”
It’s unclear from Spiro’s letter whether or not the costs the SEC is pursuing must do with the Twitter matter or one thing else. Reuters beforehand reported that the Division of Justice was probing whether or not Tesla’s self-driving claims had been truly securities fraud. In 2023, Reuters reported that lawmakers had requested the SEC to probe Neuralink over Musk’s feedback in regards to the security of the corporate’s mind system.
Musk additionally requested his AI, Grok, to attract an image of SEC chair Gary Gensler. The picture depicted a snail in a enterprise go well with, seemingly a reference to Gary the Snail from Spongebob Squarepants, a tv present for kids.
