The Securities and Trade Fee is getting ready “quite a few counts” towards Elon Musk, based on 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 fees could also be, and what number of Musk firms are affected. As an alternative, Musk’s lawyer, Alex Spiro, complains that “the Fee Employees issued a settlement demand that required Mr. Musk agree inside 48 hours to both settle for a financial fee or face costs on quite a few accounts.” Even that is considerably unclear; presumably, Spiro implies that Musk would pay a penalty quite 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 fees the SEC is pursuing must do with the Twitter matter or one thing else. Reuters previously reported that the Division of Justice was probing whether or not Tesla’s self-driving claims have been truly securities fraud. In 2023, Reuters reported that lawmakers had asked the SEC to probe Neuralink over Musk’s feedback concerning the security of the corporate’s mind gadget.
Musk additionally requested his AI, Grok, to attract an image of SEC chair Gary Gensler. The image depicted a snail in a enterprise swimsuit, seemingly a reference to Gary the Snail from Spongebob Squarepants, a tv present for youngsters.
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