New Developments in the Elon Musk-SEC Battle: Request for Settlement Regarding X

Billionaire businessman Elon Musk reported that the U.S. Securities and Exchange Commission (SEC) sent him a settlement request indicating that he may face penalties or charges due to his acquisition of the social media platform X, formerly known as Twitter.

"HOW COULD YOU DO THIS TO ME?"

Musk shared a letter sent by his lawyer Alex Spiro to SEC Chairman Gary Gensler on his X account with the note, "Oh Gary, how could you do this to me?" The letter stated that SEC staff requested Musk to agree to pay a fine within 48 hours or face numerous charges.

INVESTIGATION INTO NEURALINK REOPENED

The letter indicated that this request came after years of investigation and over six years of harassment by the SEC, and noted that the SEC reopened an investigation into Musk's neurotechnology company Neuralink this week.

"WE WON'T BE INTIMIDATED"

The letter claimed that this series of events clearly demonstrated that the SEC was conducting an inappropriate campaign against Musk and companies associated with him rather than seeking the truth, stating, "We want to know if you or the White House is directing these actions. These tactics and false plans will not intimidate us."

The SEC was investigating whether Musk committed securities fraud by selling Tesla shares and acquiring stock in X before his purchase of the social media platform, then known as Twitter, in 2022.