US SEC issues settlement request to Musk regarding previous Twitter transaction-related charges

Musk revealed that the U.S. Securities and Exchange Commission (SEC) has issued a settlement request to him, requiring him to accept fines and other conditions within 48 hours, otherwise he will face multiple charges involving "purchase, sale and disclosure of Twitter shares." The SEC is investigating whether Musk committed securities fraud before acquiring Twitter (now X) in 2022, including whether his sale of Tesla shares and purchase of Twitter shares violated disclosure obligations. The SEC previously sued Musk for his "Tesla privatization" tweet in 2018, and Musk and Tesla each paid a fine of $20 million. Musk's lawyers accused the SEC of "continuous harassment for more than six years" and questioned whether the move was directed by the White House or SEC senior management. It is also reported that Musk is facing other civil lawsuits related to the Twitter transaction, including being accused of not disclosing his investment intentions in a timely manner to influence other shareholders' decisions.