Feinstein denies wrongdoing in stock sale before coronavirus outbreak
Source: San Francisco Chronicle
WASHINGTON — California Democratic Sen. Dianne Feinstein took to Twitter on Friday to deny she did anything improper when she sold between $1.5 million and $6 million in a biotechnology company’s stock before the market crashed due to the coronavirus outbreak.
The New York Times reported that Feinstein and three other senators sold large amounts of stock in late January and early February, as federal officials publicly downplayed the threat of the virus. The sales came shortly after Trump administration officials provided classified briefings to senators on the threat from the virus, the Times and other media outlets reported.
“During my Senate career I’ve held all assets in a blind trust of which I have no control,” Feinstein tweeted. “Reports that I sold any assets are incorrect.”
Feinstein and her husband, investment banker Richard Blum, sold shares in Allogene Therapeutics, a biotechnology company, according to her financial disclosures. They sold shares on Jan. 13 and Feb. 18. The stock subsequently rose in value, peaking in early March.
Read more: https://www.sfchronicle.com/politics/article/Feinstein-denies-wrongdoing-in-stock-sale-before-15145862.php
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