SEC making ready extra costs in opposition to Elon Musk, probing Neuralink

Investing.com– The Securities and Change Fee is making ready extra costs in opposition to Elon Musk and can be probing Neuralink, based on a letter from Musk’s lawyer which the Tesla Inc (NASDAQ:TSLA) Chair posted on X. 

The letter- which was addressed to SEC Chair Gary Gensler by Musk’s lawyer Alex Spiro, states that Musk had a 48 hour deadline to simply accept a financial payout settlement, or face “costs on quite a few counts.” 

The letter didn’t specify the character of those costs, however acknowledged that the SEC’s calls for got here after a multi-year investigation. 

The letter additionally confirmed that the SEC had reopened an investigation into Musk’s neurotechnology enterprise Neuralink. Experiences in 2023 had proven that some lawmakers had requested the SEC to research Neuralink over Musk’s claims of the security of its mind chip. 

Musk has an extended historical past with the SEC, having paid the company $20 million in 2018 over his Tweets claiming that Tesla will go personal, and that he had secured the required funding. 

Musk is going through an investigation over his Twitter takeover, whereas lawmakers had been additionally wanting into Tesla’s self-driving claims. 

The letter characterised Musk’s historical past with the company as “six years of harassment” by the company. The letter additionally demanded to know who had directed the SEC’s actions in opposition to Musk.