Elon Musk is mad on the SEC once more

The Securities and Exchange Commission is making 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 — reminiscent of what the costs could also be, and what number of Musk firms are affected. Instead, Musk’s lawyer, Alex Spiro, complains that “the Commission Staff 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 somewhat than settle for cash from the SEC.

The letter characterizes this historical past as “greater than six years of harassment.”

It is unclear from Spiro’s letter whether or not the costs the SEC is pursuing should do with the Twitter matter or one thing else. Reuters beforehand reported that the Department 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 machine.

Musk additionally requested his AI, Grok, to attract an image of SEC chair Gary Gensler. The picture depicted a snail in a enterprise swimsuit, seemingly a reference to Gary the Snail from Spongebob Squarepants, a tv present for youngsters.