Elon Musk has publicly accused the U.S. Securities and Exchange Commission (SEC) of harassment, citing ongoing investigations into his acquisition of Twitter (now X) and his biotech company, Neuralink. According to a letter from Musk’s attorney, Alex Spiro, addressed to SEC Chair Gary Gensler, the SEC has issued a “settlement demand” requiring Musk to either agree to a monetary penalty or face multiple charges.
The letter claims that the SEC’s actions are part of a “multi-year investigation” involving over six years of what Musk alleges is targeted harassment. Notably, the SEC has reopened its inquiry into Neuralink and subpoenaed Spiro for testimony, which he has refused to provide.
Spiro has further alleged that the SEC’s actions are politically motivated, implying that they might be influenced by officials in the White House. Musk shared the letter on his social media platform, X, denouncing the SEC’s behavior and calling it a distraction from his efforts to advance humanity.
This legal battle follows Musk’s turbulent acquisition of Twitter, which has drawn significant regulatory scrutiny. The SEC’s increased focus on Neuralink comes amid other investigations into Musk’s companies, with critics questioning whether the regulator’s actions are disproportionate or driven by external factors.
For now, Musk faces a deadline to respond to the SEC’s settlement demand, potentially escalating tensions between the billionaire and the regulatory agency.
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