sec investigation
Elon Musk's New Monkey Death Claims Spur Fresh Demands for an SEC Investigation
For the third time this year, the US Securities and Exchange Commission is being urged to investigate allegations of whether Elon Musk made misleading claims to investors about the deaths of primates used for research by Neuralink, his brain-chip startup. The latest claims center around his recent statements at the New York Times DealBook Summit that primates who died after implant surgeries were selected for experimentation because they were already close to death. In a letter sent to federal regulators today, an animal rights advocacy and research group claims that Musk's statements are inaccurate and amount to "possible securities fraud." This marks the third letter to the SEC since late September requesting an investigation into Musk's comments about Neuralink's test subjects. Records related to Neuralink's research reviewed by WIRED paint a complicated picture of the health of the monkeys used to develop the company's brain-chip implants, which will soon be used in human trials.
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.
Tesla is said to be under investigation by the SEC for failing to disclose a 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. By rolling out self-driving technology to consumers more aggressively than its competitors, Tesla Motors secured a spot in the forefront of a coming industry.
Tesla says it hasn't been informed of SEC investigation
In a blog post last week, Tesla said its Autopilot system has been safely used in more than 100 million miles of driving, and the crash wasn't materially significant to investors because it didn't change what Tesla has said about the system's capabilities and limitations. Tesla said it informed the National Highway Traffic Safety Administration about the crash on May 16 and sent its own investigator to the Florida crash site on May 18.