US Legislators Call for SEC Investigation into Neuralink Amid Elon Musk's Alleged Securities Violations - Metaverse Post

In a recent correspondence directed to the Securities and Exchange Commission (SEC), four U.S. lawmakers have voiced their concerns and are calling for an inquiry into allegations of securities fraud against Elon Musk and Neuralink. Elon Musk .

The representatives, among them Democratic House members Earl Blumenauer from Oregon, Jim McGovern from Massachusetts, and California's Barbara Lee and Tony Cardenas, submitted their letter on Tuesday, as reported by Reuters.

There are rising apprehensions that Elon Musk may be misleading investors regarding the safety measures around a brain implant technology developed by Neuralink, prompting calls for the SEC to investigate. As the company gears up for its initial human trials of the brain implant, scrutiny over its safety protocols has certainly intensified. Neuralink Earlier this year, in May, the FDA gave the green light for Neuralink to proceed with its first human clinical trial of the brain implant. At that time, the company proudly stated that this approval would enable them to harness innovative technology for the greater good of society.

We are thrilled to announce that we have received approval from the FDA to commence our first clinical study involving human subjects!

However, downplaying these serious allegations, Elon Musk addressed the matter.

On September 10, he stated, 'No monkey has died as a result of a Neuralink implant. Initially, to ensure the safety of healthy monkeys, we selected terminally ill monkeys for our early implants.' Twitter Despite requests for a response concerning the SEC letter, Neuralink has chosen to remain silent.

Reports indicate that lawmakers believe the evidence suggests a direct correlation between the animal deaths in Neuralink’s tests and the safety and marketability of the brain-computer interface. As such, Musk’s claims denying any connection may have breached SEC regulations, as per the lawmakers’ assertions.

Musk's Plans for Neuralink Chip in Human Brains

Founded by Musk in 2016, Neuralink has been making waves in the brain-computer interface space. Fast forward to 2021, when the company released a video showcasing a monkey adeptly playing MindPong, skillfully navigating the game thanks to a Neuralink chip.

Musk commented during last year's Wall Street Journal CEO Council Summit, 'We have Neuralink functioning well with monkeys. A multitude of tests are being carried out to confirm that the chip is exceedingly safe and dependable. Plus, the Neuralink device can be safely removed.'

As reported by AfroTech, Musk also expressed hopes that they could implant the device into the first human patient suffering from severe spinal cord injuries, such as those with tetraplegia or quadriplegia. He stated that FDA approval is anticipated within the next year.

In February 2022, the Physicians Committee for Responsible Medicine (PCRM), an animal rights advocacy group, lodged a preliminary regulatory complaint with the USDA, claiming they have evidence that monkeys are enduring severe suffering at Neuralink.

The allegation describes how the firm has euthanized or killed 15 out of the 23 monkeys involved in their testing.

This scrutiny comes as Neuralink raises funds in a Series D round led by Peter Thiel’s Founders Fund. With the SEC currently assessing the inquiry, the spotlight on Neuralink's practices grows, potentially affecting the company’s future operations.

In August 2023, Neuralink has raised $280 million Please remember, the information on this page is not meant to serve as legal, tax, investment, financial advice or any other type of guidance. Always invest wisely and consider seeking independent financial counsel if you're uncertain. For more details, we recommend reviewing the terms and conditions and reaching out to the issuer or advertiser for support. MetaversePost strives for accuracy and impartial reporting, but be aware that market conditions can shift without notice.