From Investing.com: 2024-12-13 04:40:45

The U.S. SEC has reopened an investigation into Elon Musk’s Neuralink, giving him a 48-hour deadline to accept a monetary settlement or face charges over his $44 billion Twitter takeover. Musk renamed Twitter as ‘X’ and has a history of clashes with the SEC. The settlement amount was undisclosed.

Musk, who also leads Tesla and SpaceX, could face actions from the SEC. Despite Musk’s significant influence and connections, lawmakers have called for investigations into his activities, including securities fraud allegations related to Neuralink’s brain implant safety.

Musk’s lawyer, Alex Spiro, stated in a letter that they will not be intimidated by the SEC and reserved their legal rights. The SEC and Neuralink did not comment on the situation. A federal judge previously rejected the SEC’s request to sanction Musk in relation to the Twitter takeover probe.

In 2018, the SEC sued Musk over his Tesla-related Twitter posts, resulting in a $20 million fine and Musk stepping down as chairman. The recent settlement demand is linked to the SEC’s Twitter takeover probe, not Neuralink. Musk’s history of legal battles with the SEC raises questions about potential future actions.



Read more at Investing.com: SEC ‘reopens’ probe into Neuralink, Musk’s lawyer says By Reuters