The SEC, the US federal authority responsible for regulating and supervising the correct performance of the stock exchange, has opened an investigation into Tesla.
It rains in the wet for Tesla. Already back from a not exactly idyllic period, the Palo Alto carmaker, specializing in the production of electric cars, is now having to contend with a new investigation against it. According to reports from the Wall Street Journal, the SEC is carrying out investigations to determine whether Elon Musk and his brother Kimbal violated the laws in force when they sold their shares in the company.
Obviously, it will take time for the authorities to complete the ritual investigations. Undoubtedly, the communication is destined to further turn the headlights on the company, also because it is not just any authority to take the field. The Sec, acronym for Securities and Exchange Commission, represents, in fact, the United States federal body responsible for the supervision of the stock exchange. The body’s task is precisely to check the quarterly and annual reports of public operators and possibly to intervene if the situation requires it.
The reason behind the suspicions
For the avoidance of doubt, we underline it: the file opened by the authorities on the matter does not constitute evidence of illicit maneuvers by Tesla. Simply, following some (or presumed) clues about possible violations of national legislation, the institution wants to see clearly. As we anticipated at the opening of the piece, the news was beaten by the Wall Street Journal, one of the most authoritative newspapers on the subject.
But where does the stock incongruity come from? The investigation was launched in 2021, following the sale by Kimbal Mask of Tesla securities valued at 108 million dollars. The previous day, Elon had launched a survey among his Twitter followers, asking them whether or not he should sell 10 percent of his stakes in the automotive giant.