Tesla said to be under investigation by SEC for failing to disclose fatal crash

The Securities and Exchange Commission is reportedly investigating Tesla Motor Co. for possibly breaking securities law by failing to disclose that one of its drivers had died while using the company's Autopilot semi-autonomous software. After the May 7 death of driver Joshua Brown, who was behind the wheel of a Model S when it collided with a big rig in Florida, Tesla said it immediately reported the fatal crash to the National Highway Traffic Safety Administration. Brown had been using Tesla's Autopilot mode, which when engaged will assist drivers in steering, braking and collision avoidance; the feature is still in a public beta phase. The Palo Alto electric car maker characterized the death as "the first known fatality in just over 130 million miles where Autopilot was activated," but faced criticism for not disclosing the crash to the SEC, a possible breach of its corporate duty to inform the agency – and thus, its investors – of so-called material events. If you are battling traffic, teaching a teen how to make a left-hand turn or worrying over the driving skills of an elderly relative, a driverless car may seem like a marvelous thing.