>imma need a second source
Moar on Kelly Loeffler stock sell -
Sen. Kelly Loeffler of Georgia on Wednesday said that she and her CEO husband Jeff Sprecher will liquidate their individual stock share positions and related options after weeks of criticism of the couple for selling millions of dollars in stock amid the coronavirus pandemic.
Loeffler on Wednesday reiterated her defense of the prior stock sales as legally and ethically proper, and her claim that the couple’s trading was handled by third parties without her prior knowledge.
And she said that she and Sprecher, who is the chairman and CEO of Intercontinental Exchange, the company that owns the New York Stock Exchange, are selling off the individual shares not because she had to, but because she wanted to avoid further controversy.
Loeffler, who is the richest member of the Senate, said in a Wall Street Journal opinion page article announcing her decision that her stock holdings would be converted to mutual funds and exchange-traded funds by third-party advisors who handle her investments.
That Journal article carries the headline, “I Never Traded on Confidential Coronavirus Information,” a reference to the fact that Loeffler’s and Sprecher’s trades came after the senator was briefed with other lawmakers about the virus by federal health officials.
In a statement, Loeffler said, “Amid this health crisis, the temptation to circulate lies and misinformation is too great for the media and my political opponents.”
“That is why I’m taking steps to remove this temptation so that we can turn our focus back to where it belongs: on combating COVID-19 and restoring our country to health and economic recovery.”
The liquidation will be done by the end of the week, said a spokesman for Loeffler.
The senator was appointed to her Senate seat by Georgia Gov. Brian Kemp at the beginning of January after then-Sen. Johnny Isakson said he was resigning for health reasons before his term expired.
Loeffler faces several challengers in Georgia’s May 19 open primary for her Senate seat, notably from GOP Rep. Doug Collins, as well as three Democrats, a Libertarian, and an independent. Collins has raised the controversy over Loeffler’s stock trades in his campaign.
While there has not been recent public polling in the race, a recent survey commissioned by the Collins campaign after the fallout over Loeffler’s stock trades showed Collins with a huge lead, of 23 percentage points, over the senator.
“That’s not a real poll. It’s as fake as their attacks,” Loeffler’s spokesman told CNBC on Wednesday.
https://www.cnbc.com/2020/04/08/coronavirus-sen-loeffler-will-liquidate-individual-stock-shares.html