SEC looking into Musk family insider trading
The US Securities and Exchange Commission (SEC) is investigating whether share sales by Elon Musk and his brother Kimbal Musk “violated insider trading rules”.
What exactly happened, was that Kimbal Musk sold Tesla shares worth 108 million US dollars exactly one day before Elon Musk let Twitter users vote on whether he should give up ten per cent of his stake in Tesla.
Elon Musk responded that Kimbal Musk did not know about the Twitter poll ahead of it, according to an email the Financial Times received, adding that his lawyers were “aware” of the poll.
reuters.com
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