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SEC launches probe into Elon, Kimbal Musk stock sales: WSJ
FOX Business Headlines February 24
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The Securities and Exchange Commission is reportedly investigating whether stock sales by Tesla CEO Elon Musk and his brother Kimbal violated insider trading rules.
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According to the Wall Street Journal, the investigation kicked off after Kimbal sold 88,500 Tesla shares valued at approximately $108 million on Nov. 5. Kimbal's sale came a day before his brother Elon tweeted out a poll asking if he should offload 10% of his stake in the electric vehicle maker.