The US Securities and Exchange Commission is investigating whether recent stock sales by Tesla 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.
The report says the investigation began last year after Kimbal sold shares of the electric car maker, valued at $108 million, one day before his brother polled Twitter users asking whether he should offload 10 per cent of his stake in Tesla.
The SEC issued a subpoena on November 16, 10 days after the poll, seeking information related to some financial data.
The potential investigation would escalate Mr Musk's battle with regulators as they scrutinise his social media posts and Tesla's treatment of workers, including accusations of discrimination.
Last week, Tesla and Mr Musk accused the SEC of harassing them with an "endless" and "unrelenting" investigation to punish the CEO for being an outspoken critic of the government.
Elon Musk's share sales in November were automatically carried out according to a trading plan he had created on September 14, a filing disclosing share sales showed, including stock options that were supposed to expire in 2022.
The SEC sued Mr Musk in August 2018 after he tweeted he had "funding secured" to potentially take his electric car company private at $420 per share. In reality, a buyout was not close.
Tesla's shares were up about 1 per cent in late-afternoon trading, paring losses amid a broader stock market rout.
The stock has fallen about 33 per cent since Mr Musk began selling billions of dollars worth of shares on November 8, few days after the poll where 58 per cent of voters asked him to sell.
Company profile
Company: Eighty6
Date started: October 2021
Founders: Abdul Kader Saadi and Anwar Nusseibeh
Based: Dubai, UAE
Sector: Hospitality
Size: 25 employees
Funding stage: Pre-series A
Investment: $1 million
Investors: Seed funding, angel investors
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
%3Cp%3EThe%20Department%20of%20Culture%20and%20Tourism%20-%20Abu%20Dhabi%E2%80%99s%20Arabic%20Language%20Centre%20will%20mark%20International%20Women%E2%80%99s%20Day%20at%20the%20Bologna%20Children's%20Book%20Fair%20with%20the%20Abu%20Dhabi%20Translation%20Conference.%20Prolific%20Emirati%20author%20Noora%20Al%20Shammari%2C%20who%20has%20written%20eight%20books%20that%20%20feature%20in%20the%20Ministry%20of%20Education's%20curriculum%2C%20will%20appear%20in%20a%20session%20on%20Wednesday%20to%20discuss%20the%20challenges%20women%20face%20in%20getting%20their%20works%20translated.%3C%2Fp%3E%0A
Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
Rating: 4/5
The specs
Engine: 3.9-litre twin-turbo V8
Power: 620hp from 5,750-7,500rpm
Torque: 760Nm from 3,000-5,750rpm
Transmission: Eight-speed dual-clutch auto
On sale: Now
Price: From Dh1.05 million ($286,000)
Skoda Superb Specs
Engine: 2-litre TSI petrol
Power: 190hp
Torque: 320Nm
Price: From Dh147,000
Available: Now
Sholto Byrnes on Myanmar politics
