The U.S. Securities and Exchange Commission is investigating whether recent stock sales by Tesla Inc Chief Executive Elon Musk and his brother Kimbal Musk "violated insider trading rules", the Wall Street Journal reported on Thursday, citing people familiar with the matter.
Highlights
- The U.S.
- Securities and Exchange Commission is investigating whether recent stock sales by Tesla CEO Elon Musk “violated insider trading rules” The Wall Street Journal reported on Thursday that the decision was made after Musk sent a tweet asking for information about his plans to sell his stock.
- The company’s stock has fallen about 33% since the announcement of the poll on Nov.
- 8, a few days after it was made.
- The tweet was made in response to a request for information from Musk’s lawyers to be vetted by the SEC, according to the report.
- The SEC has declined to comment on the matter, saying they are investigating the matter as a result of the social media poll.