Elon Musk is mad at the SEC again

The Securities and Exchange Commission is preparing “numerous counts” against Elon Musk, according to a letter from his lawyer that Musk posted to X. It has also “reopened an investigation into Neuralink.”

The letter is short on specifics — such as what the charges may be, and how many Musk companies are affected. Instead, Musk’s lawyer, Alex Spiro, complains that “the Commission Staff issued a settlement demand that required Mr. Musk agree within 48 hours to either accept a monetary payment or face charges on numerous accounts.” Even this is somewhat unclear; presumably, Spiro means that Musk would pay a penalty rather than accept money from the SEC.

The letter characterizes this history as “more than six years of harassment.”

More recently, the SEC sought to sanction Musk for no-showing on them in a separate investigation over his Twitter takeover. A judge declined to sanction him because he reimbursed the SEC for the airfare of the lawyers he stood up.

It is unclear from Spiro’s letter whether the charges the SEC is pursuing have to do with the Twitter matter or something else. Reuters previously reported that the Department of Justice was probing whether Tesla’s self-driving claims were actually securities fraud. In 2023, Reuters reported that lawmakers had asked the SEC to probe Neuralink over Musk’s comments about the safety of the company’s brain device.

Original Author: Elizabeth Lopatto | Source: The Verge