SEC Probes Elon Musk and His Brother Kimbal over Stock Sales

LA Times2022-02-25

One day before Elon Musk told his Twitter followers he was considering selling Tesla shares, his brother, Kimbal, a company board member, did just that. The SEC is investigating. The Securities and ...

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Comments

Andaroo
2022-02-25
Andaroo
Amc gme
LEESIMON
2022-02-25
LEESIMON
Freedom of speech
Zacccc
2022-02-25
Zacccc
K
Bodoh
2022-02-25
Bodoh
Hmmmm
phongy 45
2022-02-25
phongy 45
Insider ?
Mich77
2022-02-25
Mich77
read

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The SEC is investigating. The Securities and ...</p>\n\n<a href=\"https://finance.yahoo.com/news/sec-probes-elon-musk-brother-221558178.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"TSLA","symbol_name":"特斯拉","start_time":0,"source_url":"https://finance.yahoo.com/news/sec-probes-elon-musk-brother-221558178.html","article_id":"2214973632","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2214973632","pubTimestamp":1645745847,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"One day before Elon Musk told his Twitter followers he was considering selling Tesla shares, his bro","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"TSLA":"特斯拉"},"translate_title":"美国证券交易委员会调查埃隆·马斯克和他的兄弟金巴尔的股票销售","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TSLA":1},"content_text":"One day before Elon Musk told his Twitter followers he was considering selling Tesla shares, his brother, Kimbal, a company board member, did just that. The SEC is investigating. The Securities and Exchange Commission is investigating whether Tesla Inc. Chief Executive Elon Musk and his brother Kimbal violated securities laws when selling shares in the company late last year, according to a person familiar with the matter.The regulator’s probe is focused on transactions that took place just before Elon Musk polled his Twitter followers asking if he should sell a 10% stake in the company. The SEC is looking into whether any insider trading rules were violated, said the person familiar with the matter, who asked not to be named because the probe is private.The SEC declined to comment. Tesla, Elon and Kimbal Musk did not immediately respond to requests for comment. The probe was reported earlier by the Wall Street Journal.Tesla stock slumped after the CEO's Nov. 6 Twitter poll, closing down the most in five months. Kimbal Musk, a Tesla board member, had sold 88,500 Tesla shares worth about $109 million on Nov. 5, according to a filing after the market closed on that day.Earlier this month, Tesla disclosed that it had received an SEC subpoena on Nov. 16 seeking information about its governance processes and compliance with a settlement it reached with the agency in September 2018 over Elon Musk’s tweeting.As part of that agreement, Tesla pledged to put in place controls to oversee the CEO’s communications -- including his tweets — after the SEC alleged that the world’s richest person had committed securities fraud by saying on the social media platform that he had secured funding for the company to go private.Musk and the SEC have been at loggerheads ever since. The agency sought to have a judge find the billionaire in contempt of the settlement early the following year when he tweeted about Tesla’s production outlook without getting prior approval. The two sides agreed in April 2019 to amend their agreement by adding specific topics the Tesla chief couldn’t tweet about, or otherwise communicate in writing, without running it by a company lawyer.The dispute gathered fresh steam last week when Musk’s lawyer told a federal court that the SEC was targeting Musk and the electric car maker with “unrelenting investigation” because the CEO is “an outspoken critic of the government.” The SEC has denied the allegation, and on Thursday a judge refused to hold a hearing on the claims.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9030541038,"gmtCreate":1645764921812,"gmtModify":1676534062426,"author":{"id":"3575199303759784","authorId":"3575199303759784","name":"Andaroo","avatar":"https://static.tigerbbs.com/634c9b9f18158d4a4e497249bdbe8fd5","vip":1,"crmLevel":3,"crmLevelSwitch":0},"htmlText":"Amc gme&nbsp;","listText":"Amc gme&nbsp;","text":"Amc gme","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9030541038","repostId":2214973632,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9030540918,"gmtCreate":1645764082729,"gmtModify":1676534062353,"author":{"id":"3579044609497336","authorId":"3579044609497336","name":"LEESIMON","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":7,"crmLevelSwitch":1},"htmlText":"Freedom of speech","listText":"Freedom of speech","text":"Freedom of speech","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9030540918","repostId":2214973632,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9030527676,"gmtCreate":1645760923936,"gmtModify":1676534062031,"author":{"id":"3580985948385873","authorId":"3580985948385873","name":"Zacccc","avatar":"https://static.tigerbbs.com/999cc169af5695ac698ea1af4c2595dd","vip":1,"hat":"https://static.tigerbbs.com/b0a2963eb37c60c5d6d4a8dbcd266952","crmLevel":4,"crmLevelSwitch":1},"htmlText":"K","listText":"K","text":"K","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9030527676","repostId":2214973632,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9030516385,"gmtCreate":1645753368800,"gmtModify":1676534061063,"author":{"id":"3559859558754319","authorId":"3559859558754319","name":"Bodoh","avatar":"https://static.tigerbbs.com/349218ea2852130ca86ce660b4aa2d59","vip":1,"crmLevel":3,"crmLevelSwitch":0},"htmlText":"Hmmmm","listText":"Hmmmm","text":"Hmmmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9030516385","repostId":2214973632,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9030532090,"gmtCreate":1645752234127,"gmtModify":1676534060835,"author":{"id":"4101978790494150","authorId":"4101978790494150","name":"phongy 45","avatar":"https://static.tigerbbs.com/f6f41e543307358288f75d55fe347ad2","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Insider ?","listText":"Insider ?","text":"Insider ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9030532090","repostId":2214973632,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9030533467,"gmtCreate":1645751686779,"gmtModify":1676534060617,"author":{"id":"3581849551321020","authorId":"3581849551321020","name":"Mich77","avatar":"https://static.tigerbbs.com/e68e0beedd6e067e59c605653c639699","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"read","listText":"read","text":"read","images":[],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9030533467","repostId":2214973632,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":461,"commentSize":21,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; 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