TuSimple probed by FBI, SEC over ties to Chinese startup- WSJ By Reuters

© Reuters. FILE PHOTO: TuSimple truck-trailers are parked at their facility at AllianceTexas, a 27,000 acre business complex boasting some of the country’s largest freight operations, in Fort Worth, Texas, U.S. May 18, 2022. Picture taken May 18, 2022. REUTERS/Co

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(Reuters) – Self-driving truck startup TuSimple Holdings Inc is being investigated by the FBI, U.S. Securities and Exchange Commission (SEC) and Committee on Foreign Investment about its relationship with China-backed Hydron Inc, the Wall Street Journal reported on Sunday.

The officials are looking at whether TuSimple and its executives, specially Chief Executive Xiaodi Hou, breached fiduciary duties and securities laws by failing to properly disclose the relationship with Hydron, the WSJ said, citing people familiar with the matter.

TuSimple did not respond to a Reuters request for comment on the report.

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