Elon Musk and his brother reportedly face a US probe over stock trades last year
NEW YORK: US market regulators are probing whether Tesla boss Elon Musk and his brother violated insider trading rules in connection with whopping share sales last year, the Wall Street Journal reported Thursday.
The Securities and Exchange Commission reportedly launched its probe after Kimbal Musk sold $108 million in Tesla stock last year, just a day before a significant drop in the electric car maker’s share price.
Tesla stock value fell sharply after Elon Musk posted a Twitter poll asking whether he should sell 10% of his stake in the company.
The probe is looking into whether Elon Musk told his brother, also a member of the Tesla board of directors, that he would post the tweet and whether Kimbal Musk then traded, the…
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
