Friday, January 27, 2023

Insider trading by the Pelosi's

Paul Pelosi sold $3 million worth of Google stock a month prior to the DOJ’s antitrust lawsuit

Just yesterday the Washington Free Beacon reported that former Speaker of the House Nancy Pelosi and her husband Paul may have used privileged information to cut their losses in the stock market.

Financial disclosure filings that Nancy submitted to the House Ethics Committee revealed that Paul sold 30,000 shares of Google worth approximately $3 million between Dec. 20 and Dec. 28.

A month later, on Jan. 24, 2023, the Justice Department and attorneys general from eight states—including Pelosi's home state of California—sued Google for monopolizing digital advertising technologies via serial acquisitions and engaging in other anti-competitive practices.

The lawsuit may compel Google to break up into smaller units and have other restrictions instituted.

The news of the lawsuit caused the price of Google's stock to plummet by 6 percent.

This trade is the latest in a string of questionable transactions by the Pelosi couple.

A Washington Free Beacon analysis revealed that the Pelosi couple have seen their fortune grow to $140 million since 2008, due to Paul's stock trades.

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