SEC's Demand and Musk's Response
The SEC has reportedly demanded either pay a penalty or face charges over his disclosures related to Twitter stock purchases, sparking a renewed investigation into Musk's companies.
Musk, through his lawyer, has labeled the SEC's demand as a "misguided scheme" and has questioned the motives behind the investigation, alleging it may be politically motivated.
Legal and Political Background
A lawsuit accuses Musk of delaying the disclosure of his Twitter stake, which allegedly harmed investors by preventing them from benefiting from the subsequent surge in Twitter's stock price.
Musk has a history of legal battles with the SEC, including a notable case in 2018 over tweets about taking Tesla private, which resulted in a $20 million settlement for each Musk and Tesla.