Elon Musk shared a letter from his lawyer, Alex Spiro, in X, according to which the Securities and Exchange Commission (SEC) is preparing «numerous charges» against the billionaire.
Elon Musk shared a letter from his lawyer, Alex Spiro, in X, according to which the Securities and Exchange Commission (SEC) is preparing «numerous charges» against the billionaire.
«Oh Gary, how could you do this to me?» Elon Musk captioned the tweet that released the letter.
In the letter, Musk’s lawyer reports that in the case of certain purchases, sales and disclosures of Twitter shares, on December 11, SEC staff issued a demand that Musk must either agree to «accept a monetary payment or face charges on multiple counts» within 48 hours. The wording is a bit unclear, but Spiro likely means that Musk will pay a fine rather than take money from the SEC, MSN suggests .
The demands relate to the commission’s years-long investigation into Elon Musk. In 2018, Musk briefly pretended to cover up Tesla before admitting two weeks later that Tesla would remain public. The SEC then sued him over a tweet that he had «secured financing» to take Tesla private. Musk settled with the agency, paying $20 million, stepping down as Tesla’s chairman, and agreeing to a lawyer to monitor his tweets. Musk has since dropped the «nanny» issue on Twitter. That particular dispute has reached the Supreme Court, which has declined to hear the case.
Musk’s lawyer also said in a letter that the SEC had reopened its investigation into Neuralink last week. Reuters previously reported that the Justice Department was investigating whether Tesla’s claims of self-driving cars constituted securities fraud. In 2023, Reuters reported that lawmakers had asked the SEC to investigate Neuralink, Elon Musk’s company that has been developing brain implants since 2016 and first implanted one in a human brain in January of this year. Musk and the SEC had sought comments on the safety of the company’s brain device.
