Elon Musk is mad on the SEC once more

The Securities and Alternate Fee is making ready “quite a few counts” towards Elon Musk, in accordance with a letter from his lawyer that Musk posted to X. It has additionally “reopened an investigation into Neuralink.”

The letter is brief on specifics — similar to what the costs could also be, and what number of Musk corporations 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 cost or face expenses on quite a few accounts.” Even that is considerably unclear; presumably, Spiro implies that Musk would pay a penalty relatively 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 have been really 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 gadget.

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 youngsters.