SEC 'reopens' probe into Neuralink, Musk's lawyer says

Source: Yahoo Finance

The U.S. Securities and Exchange Commission (SEC) this week has reopened an investigation into Elon Musk's brain-chip startup Neuralink, according to a letter shared by Musk on Thursday on social media platform X.

The Dec. 12 letter from Musk's lawyer Alex Spiro and addressed to outgoing SEC Chair Gary Gensler also said that the agency had issued Musk a 48-hour settlement deadline to either accept a monetary payment or face charges over the probe into his $44 billion takeover of Twitter.

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Musk has long sparred with the SEC and last year four lawmakers asked the commission to investigate whether Musk committed securities fraud by allegedly misleading investors about the safety of a brain implant developed by Neuralink.

The billionaire entrepreneur who also heads Tesla and SpaceX is set to gain extraordinary influence after spending more than a quarter of a billion dollars to help Donald Trump win November's presidential election. His companies are expected to be well insulated from regulation and enforcement measures.

Read more: https://finance.yahoo.com/news/sec-reopens-probe-elon-musks-052215254.html