SEC Investigating Elon Musk and His Brother Over Possible Insider Trading
The Securities and Exchange Commission is examining whether Elon Musk and his brother, Kimbal, committed insider trading violations, according to unnamed sources cited by The Wall Street Journal.
The report alleged that in November Kimbal Musk sold 88,500 shares of Tesla stock worth $108 million—about 14 percent of his holdings—just a day before company CEO Elon Musk conducted a Twitter poll asking if he should sell 10 percent of his shares in the electric carmaker.
“I will abide by the results of this poll, whichever way it goes,” Elon said then.
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