Elon Musk has denied passing information that could have hurt Tesla’s stock price to his brother Kimbal, after a report that both men have become the subject of an insider trading investigation by US regulators.
The Securities and Exchange Commission is inquiring about a sale of the electric car company’s shares by Kimbal Musk the day before his brother launched a poll on Twitter last November over whether he should sell a large slice of his own holding in the company, the Wall Street Journal reported on Thursday.
Tesla’s share price fell 5 per cent on the first trading day after the poll, which was backed by an overwhelming majority of people voting.
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