Elon Musk and brother under investigation for alleged insider trading [View all]
Source: The Guardian
Kari Paul and agencies
Thu 24 Feb 2022 16.05 EST
Kimbal Musk sold Tesla shares the day before his brother asked Twitter if he should sell
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The US Securities and Exchange Commission has reportedly opened an investigation into whether recent stock sales by Tesla CEO Elon Musk and his brother Kimbal Musk violated insider trading rules.
The SEC inquiry – first reported by the Wall Street Journal on Thursday – was sparked in part by the Tesla CEO’s own tweets.
It centers on an incident last year when Kimbal – who sits on Tesla’s board of directors – sold $108m of shares in the electric carmaker. The exchange took place just a day before before Musk polled Twitter users asking whether he should offload 10% of his stake in Tesla, sending shares falling.
Read more: https://www.theguardian.com/technology/2022/feb/24/elon-musk-brother-under-investigation-insider-trading
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