Elon Musk Faces SEC Settlement Demand Within 48 Hours, Alleges Political Motives

Dec 13, 2024, 12:41 AM

The Securities and Exchange Commission (SEC) has issued a settlement demand to Elon Musk, requiring him to either pay a monetary penalty or face charges on numerous accounts within 48 hours. Musk's lawyer, Alex Spiro, has accused the SEC of harassment and suggested that the demand might be politically motivated, potentially involving the Biden White House. This latest confrontation adds to a history of disputes between Musk and the SEC, which includes previous legal actions over Musk's tweets about taking Tesla private and his involvement with Neuralink. The SEC's actions are seen by some as part of a broader campaign against Musk, who has openly criticized the regulatory body.