Considered one of Elon Musk’s least favorite federal businesses, the SEC, is reportedly re-opening investigation into Neuralink
Elon Musk’s turmous relationship with US federal businesses continues, after he confirmed that the Securities and Alternate Fee (SEC) has re-opened an investigation into Neuralink.
In a tweet on X (previously Twitter), Musk posted “Oh Gary, how may you do that to me?” together with a letter from Musk’s lawyer Alex Spiro and addressed to outgoing SEC Chair Gary Gensler.
This isn’t the one regulator problem dealing with Neuralink. Earlier this month a letter from the Meals and Drug Administration (FDA) revealed that an animal testing laboratory at Neuralink had been cited, after it was discovered to have “objectionable circumstances or practices”.
Oh Gary, how may you do that to me? 🥹 pic.twitter.com/OoooQI77ZS
— Elon Musk (@elonmusk) December 12, 2024
Neuralink investigation
That got here after Neuralink beforehand got here underneath federal investigation for potential animal-welfare violations, amid inner employees complaints that animal testing at Neuralink was being rushed, inflicting unnecessary struggling and deaths.
Now in response to the 12 December letter shared by Musk on Thursday, Alex Spiro alleged that the SEC had issued Musk a 48-hour settlement deadline to both settle for a financial fee or face “costs on quite a few counts” over the probe into his $44 billion takeover of Twitter (now generally known as X).
The settlement quantity was not disclosed within the letter, however the SEC demand “follows a multi-year investigation and greater than six years of harassment of Mr Musk by the Fee and its Workers,” Musk’s lawyer wrote, earlier than demanding that this “importerly motivated marketing campaign towards My Musk stops.”
We demand to know who directed these actions- whether or not it was you (Gary Gensler, SEC chair) or the White Home,” the letter concluded. “These ways and misguided scheme won’t intimidate us,” the letter says.
SEC feud
The SEC might be one in every of Elon Musk’s least favorite federal businesses, and he has repeatedly clashed with them over time.
Nevertheless the unhealthy blood between Musk and the SEC actually started in August 2018, when Musk stunned the markets, when he tweeted that he was contemplating taking Tesla non-public and he had secured funding to take action.
The SEC sought to ban Elon Musk from performing as an officer or director of a publicly traded firm consequently, after the privatisation by no means materialised.
Ultimately, the US monetary regulator pressured Musk to step down as chairman of Tesla and pay $20m in penalties.
As well as, Tesla itself additionally needed to pay a $20 million penalty.
Musk nevertheless was allowed to retain the Tesla CEO position and have his subsequent tweets about Telsa vetted by an organization lawyer – a course of that he has allegedly damaged on a number of events and he continues to try to scrap that oversight.
Musk has not helped his nook after he continued to insult the SEC over time.
In October 2018 for instance Musk tweeted that the US company was the “shortseller enrichment fee.”
Then in December 2018 Musk publicly admitted that he had “no respect” for the SEC. Worse was to come back in July 2020 when Musk tweeted one other insult.
The message was extensively learn as having a vulgar which means and comprising a significant insult to the company.
In September 2024 the SEC mentioned it intends to hunt sanctions towards Musk after the billionaire failed to look for testimony ordered by the court docket for the SEC’s probe into his $44 billion (£33bn) takeover of Twitter.
