Elon Musk reveals fresh SEC probe of Neuralink in angry X posts
Dec 13, 2024 - businessinsider.com
Elon Musk has disclosed that Neuralink, his brain-chip implant company, is under investigation by the Securities and Exchange Commission (SEC). Musk shared a legal letter on X, criticizing SEC Chair Gary Gensler and accusing the SEC of being politically motivated. The letter from Musk's lawyer, Alex Spiro, indicated that the SEC has reopened an investigation into Neuralink and is also preparing action against Musk regarding his 2022 acquisition of Twitter, now known as X. The investigation focuses on Musk's purchase of Twitter shares prior to his $44 billion acquisition of the social network.
Spiro's letter mentioned that the SEC issued a "settlement demand," requiring Musk to agree to a payment within 48 hours or face enforcement action. This follows a long-standing conflict between Musk and the SEC, dating back to a 2018 lawsuit over a tweet about taking Tesla private. Musk's posts included mocking AI-generated images of Gensler, further highlighting his contentious relationship with the regulatory body. Neither Neuralink nor the SEC has commented on the matter.
Key takeaways:
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Elon Musk revealed that Neuralink is under investigation by the SEC, which he has criticized in the past.
Musk shared a legal letter on X, mocking SEC Chair Gary Gensler and accusing the SEC of being politically motivated.
The SEC's investigation relates to Musk's acquisition of Twitter shares before his $44 billion purchase of the company.
Musk's lawyer, Alex Spiro, mentioned a "settlement demand" from the SEC, following years of what they describe as harassment.
