The billionaire businessman has spent weeks campaigning relentlessly for Donald Trump. That dedication could lead to major benefits for him and his companies.
President Biden picked an unusual financial watchdog to run the Securities and Exchange Commission. Gary Gensler made a fortune at Goldman Sachs — then pushed through aggressive market reforms.
Moderna is currently developing a promising, yet still unproven, vaccine against the coronavirus. But Moderna executives have already sold tens of millions of dollars worth of stock in the company.
Earlier this month, Jack Brewer, a former NFL player and a supporter of President Trump's reelection, was charged with insider trading. Now, he's set to speak at the Republican National Convention.
The leaders of the Securities and Exchange Commission's enforcement division say they are taking aggressive action to combat potential investment fraud related to the COVID-19 pandemic.
Musk is required to get his statements about Tesla approved by company officials before he publishes. A recent tweet misstated the company's production rate.
The agency says Gene Levoff used prior knowledge of earnings to buy and sell millions of dollars in Apple stock, even as he was responsible for overseeing compliance with rules on insider trading.
"Musk's false and misleading public statements and omissions caused significant confusion and disruption in the market for Tesla's stock and resulting harm to investors," the lawsuit says.