Elon Musk's contentious relationship with the Securities and Exchange Commission (SEC) has escalated with the revelation of a new investigation into his brain-computer interface company, Neuralink. A letter posted by Musk on X (formerly Twitter), seemingly from his long-time lawyer Alex Spiro, indicates that the SEC has "reopened" a probe into Neuralink and is also preparing action against Musk regarding his pre-acquisition investment in Twitter.
The letter said that the US SEC had given Elon Musk 48 hour to agree to pay a penalty or face charges. The SEC sent Musk a settlement offer with that timeline, but has since reportedly extended it to Monday after a request for more time.
What is the SEC probe about
The SEC has been scrutinizing the timing and disclosure of Musk's Twitter stock purchases before he bought the platform for $44 billion. According to the letter, the SEC initially gave Musk a 48-hour ultimatum to accept a settlement or face enforcement action, a deadline later extended to Monday.
While the letter doesn't specify the focus of the Neuralink investigation, it does reveal that Spiro was recently subpoenaed but refused to testify. The letter, addressed to outgoing SEC Chair Gary Gensler, questions whether Gensler or "the White House" is behind an "improperly motivated campaign against Mr. Musk." The SEC declined to comment.
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