Elon Musk has hit out at the US Securities and Exchange Commission as the Wall Street regulator reopened an investigation in his Neuralink Crop., and prepared to level charges against him. Musk posted a letter by his lawyer, Alex Spiro, on social media platform X addressed to SEC chair Gary Gensler saying "This (SEC) demand follows a multi-year investigation and more than six years of harassment of Mr. Musk by the Commission and its Staff."
Spiro's letter points out that the "US markets regulator had given Musk 48 hours to accept a settlement or face enforcement action."
Oh Gary, how could you do this to me? 🥹 pic.twitter.com/OoooQI77ZS
December 12, 2024The Tesla, SpaceX, Starlink chief has had a hot and cold relationship with the US market regulator for years now. The agency previously sued the billionaire in 2018 over a tweet about taking Tesla private.
Fairness Questioned
The SEC letter, dated this week, did not specify the exact nature of the charges, but Spiro outlined that the SEC is preparing to charge Musk on "numerous counts".
AdvertisementMusk's legal team has expressed concerns about the timing and fairness of the Commission's demands.
Spiro's letter added that, "This series of events makes clear that the Commission is not motivated to seek the truth but instead is engaged in an improperly motivated campaign against Mr. Musk and the individuals and companies associated with him."
Musk's lawyer further revealed that the SEC has reopened its investigation into Neuralink. This comes after earlier scrutiny of the company's practices, particularly around the safety of animal testing, which raised ethical concerns.
AdvertisementThe letter also referenced an ongoing probe into Musk's acquisition of Twitter, which he took private in 2022 for $44 billion.
The SEC has been investigating whether Musk complied with disclosure requirements related to his purchase of Twitter stock prior to the deal. Musk had failed to disclose his stake in the company within the required time frame, a violation that drew scrutiny from regulators.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.