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Tue Dec 1, 2020, 01:08 PM Dec 2020

New questions: What did David Perdue know about COVID technology before big stock buyback?

(Salon) Earlier this year, embattled Sen. David Perdue of Georgia, one of two multimillionaire Republicans facing tight runoff elections that could decide control of the Senate, sold $1 million worth of stock in Cardlytics, a financial firm where he once sat on the board. What makes this stock sale especially interesting is that six weeks later, an executive shake-up at Cardlytics that sent the stock tumbling. After the share price hit its low point in March, Perdue bought back up to $500,000 worth of stock, which has since quadrupled in value.

The trades drew federal scrutiny, but Perdue argued that he did not personally direct any of his transactions. The New York Times reported last week, however, that Department of Justice investigators have found that Perdue had instructed his Goldman Sachs wealth manager to make the sale two days after receiving a personal email from the Cardlytics CEO that advised of "upcoming changes."

Now, new information raises questions about what else Perdue may have known was in store for the company in March, when he scooped up as much as half a million dollars worth of shares on the cheap.

Around the time of Perdue's buyback, the company quietly rolled out a "COVID-19 Dashboard" to help its clients track and target consumer spending during the pandemic. Executives appear to have first mentioned this dashboard in public, however, during a first-quarter earnings call in May. ...........(more)


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New questions: What did David Perdue know about COVID technology before big stock buyback? (Original Post) marmar Dec 2020 OP
Running government like a business. Midnight Writer Dec 2020 #1
K&R. nt Wednesdays Dec 2020 #2
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