New financial disclosure shows Sen. Kelly Loeffler invested in firm that makes personal protective equipment
A financial disclosure filed Tuesday shows that from mid-February to mid-March, Sen. Kelly Loeffler (R-Ga.) and her husband, New York Stock Exchange Chairman Jeff Sprecher, invested in DuPont, a company that makes personal protective equipment used by first responders fighting the COVID-19 coronavirus, The Atlanta Journal-Constitution reports.
Loeffler, worth an estimated $500 million, came under fire last month when it was discovered that she dumped millions in stock after receiving private briefings on the coronavirus pandemic and before she publicly downplayed the threat from the virus; 15 of the stocks had, on average, lost more than a third of their value by late March. Loeffler has denied using insider knowledge to influence her decisions to buy and sell stock, and her campaign says an investment firm manages her stocks and she does not have any control over day-to-day decisions.
The disclosure filed Tuesday shows that the largest transactions made between mid-February and mid-March involved $18.7 million in sales of Intercontinental Exchange stock. ICE owns the New York Stock Exchange, and Loeffler is a former company executive. Loeffler's campaign said the sales were prearranged as part of Loeffler's and Sprecher's compensation package. Read more about Loeffler's stock sales at The Atlanta Journal-Constitution.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Update, April 2: In a statement to The Week, a Loeffler spokeswoman said, "Sen. Loeffler filed another Periodic Transaction Report (PTR) and the facts are still the same. These transactions are consistent with historical portfolio activity and include a balanced mix of buys and sells. Her stock portfolio is managed independently by third-party advisors and she is notified, as indicated on the report, after transactions occur. Sen. Loeffler continues to operate with integrity and transparency — following both the spirit and the letter of the law. While some will continue to make baseless accusations devoid of facts, Sen. Loeffler will continue working to keep Americans safe and provide much-needed relief to Georgia families and businesses impacted by COVID-19."
Create an account with the same email registered to your subscription to unlock access.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Catherine Garcia is night editor for TheWeek.com. Her writing and reporting has appeared in Entertainment Weekly and EW.com, The New York Times, The Book of Jezebel, and other publications. A Southern California native, Catherine is a graduate of the University of Redlands and the Columbia University Graduate School of Journalism.
-
Today's political cartoons - April 28, 2024
Cartoons Sunday's cartoons - airline safety, teleprompter gaffs, and more
By The Week US Published
-
5 doom 'n' gloom cartoons about the mess we're in
Cartoons Artists take on long-term pessimism, dystopian fears, and more
By The Week US Published
-
The Church of England's legacy of slavery
The Explainer Should the CofE offer financial redress for its involvement in the transatlantic slave trade?
By The Week UK Published
-
Empty-nest boomers aren't selling their big homes
Speed Read Most Americans 60 and older do not intend to move, according to a recent survey
By Peter Weber, The Week US Published
-
Brazil accuses Musk of 'disinformation campaign'
Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
By Rafi Schwartz, The Week US Published
-
Disney board fends off Peltz infiltration bid
Speed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
By Rafi Schwartz, The Week US Published
-
Disney and DeSantis reach detente
Speed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
By Peter Weber, The Week US Published
-
Visa and Mastercard agree to lower swipe fees
Speed Read The companies will cap the fees they charge businesses when customers use their credit cards
By Peter Weber, The Week US Published
-
Reddit IPO values social media site at $6.4 billion
Speed Read The company makes its public debut on the New York Stock Exchange
By Peter Weber, The Week US Published
-
Housing costs: the root of US economic malaise?
speed read Many voters are troubled by the housing affordability crisis
By Peter Weber, The Week US Published
-
Feds cap credit card late fees at $8
speed read The Consumer Financial Protection Bureau finalized a rule to save households an estimated $10 billion a year
By Peter Weber, The Week US Published