Additional Coverage:
- Elon Musk’s lawyer said the SEC demanded the Tesla CEO pay a fine or face charges to resolve an investigation into his purchase of Twitter (newsbreak.com)
Elon Musk has accused the SEC of investigating him unfairly. The SEC allegedly sent Musk a settlement demand regarding his Twitter acquisition and an investigation into his company Neuralink.
Musk’s lawyer alleges that the SEC gave Musk 48 hours to accept a settlement offer or face charges. He also claims that the investigation is politically motivated due to Musk’s support for President-elect Donald Trump.
The SEC has not confirmed the existence of the investigation but has a policy of keeping investigations confidential.
This is not the first time Musk has had issues with the SEC. In 2018, he was fined $20 million for tweeting about taking Tesla private without proper disclosure.
Musk’s lawyer has refused to testify and has threatened to take legal action against the SEC. He claims that the investigation is harassment and that they will not be intimidated.