Paul Pelosi, the multimillionaire husband of former House Speaker and current Rep. Nancy Pelosi, D-Calif., sold 30,000 shares of Google stock a month prior to the Dept. of Justice’s announcement of an antitrust lawsuit against the tech giant, according to a financial disclosure filed with the House of Representatives.
Pelosi reported the sale of Google stock in three different transactions between Dec. 20 and Dec. 28, 2022, each of which involved the sale of 10,000 shares of stock in Google’s parent corporation Alphabet Inc. The Periodic Transaction Report filed with the House notes that each transaction involved an amount between $500,001 and $1,000,000 and yielded capital gains of more than $200 — although it’s unclear how large the profit was. Taken together, the trades involved 30,000 shares and between $1.5 million and $3 million of assets.
The DOJ and eight states announced a lawsuit against Google on Tuesday, alleging that the company engaged in anticompetitive behavior and exercised a monopoly over internet search traffic.
“Google’s anticompetitive behavior has raised barriers to entry to artificially high levels, forced key competitors to abandon the market for ad tech tools, dissuaded potential competitors from joining the market, and left Google’s few remaining competitors marginalized and unfairly disadvantaged,” the DOJ and the states allege.
Matt Gaetz when asked about Politicians trading stocks: “We have information that other people do not” “we have the ability to impact how various companies do” pic.twitter.com/ei7C0HWSUs — Nancy Pelosi Stock Tracker (@PelosiTracker) January 19, 2023
No. Insider trading is the way. Otherwise, “If you’re going to be crazy, you have to get paid for it, or else you’re going to be locked up.”
– Hunter S. Thompson