Elon Musk’s ongoing confrontation with the U.S. Securities and Exchange Commission (SEC) has intensified following a new investigation into his brain-computer interface company, Neuralink, and his stock purchases related to Twitter. Musk’s attorney, Alex Spiro, posted a letter on X (formerly Twitter) detailing that the SEC had reopened its investigation into Neuralink and was also scrutinizing Musk’s stock purchases before acquiring Twitter for $44 billion.
The letter revealed that the SEC had initially given Musk 48 hours to agree to a settlement or face charges. However, following Musk’s request for additional time, the SEC extended the deadline until Monday. The investigation into Musk’s Twitter stock purchases is focused on the timing and disclosure of these purchases, raising concerns about whether he followed proper procedures.
The letter, which was sent to SEC Chairman Gary Gensler, raises questions about the motives behind the investigation, with Musk’s lawyer suggesting the SEC’s actions may be part of an “improperly motivated campaign” against Musk. The SEC has yet to comment on the matter.
This latest conflict follows a long history of legal battles between Musk and the SEC, including a 2018 lawsuit over his tweets about taking Tesla private. Additionally, in late 2023, a request was made by lawmakers and a non-profit group to investigate Musk and Neuralink for potential securities fraud, alleging misleading statements by the company.
