Nancy Pelosi Sold Google Stock Before Antitrust Lawsuit: Coincidence or Insider Trading?
Did Congresswoman and former House Speaker Nancy Pelosi and her husband sell off Google stock with insider knowledge? The timing of the sale is raising eyebrows.Former House Speaker Nancy Pelosi’s husband, Paul Pelosi, sold 30,000 shares of Google stock in December – a month before the Justice Department and eight states sued Google (Alphabet). This has fueled speculation about potential insider trading.
Reports indicate that Pelosi sold 30,000 shares of GOOGL stock from Dec. 20 to Dec. 28, in a transaction worth up to $3 million. The sale came shortly before the Justice Department (DOJ) announced an antitrust lawsuit against Alphabet, the parent company of Google.
Former House Speaker Nancy Pelosi, D-Calif, was slammed on Twitter Wednesday after it was reported that she sold 30,000 shares of Alphabet, Google's parent. The timing, so close to the DOJ announcement, sparked immediate controversy.
Paul Pelosi, the husband of former House Speaker Nancy Pelosi, sold off 30,000 shares of Google stock last month, just weeks before the Justice Department filed a landmark antitrust lawsuit. This proximity in time is fueling allegations and investigations.
Now, some would say she did so as part of a normal portfolio rebalance and shedding. Others are not convinced, pointing to the suspicious timing and potential access to non-public information.
Was this merely a coincidental portfolio adjustment, or did Pelosi and her husband profit from privileged information? The debate continues.