Sen. Dianne Feinstein, D-Calif., sold more than $1 million worth of stocks in the days leading up to the coronavirus outbreak that caused the market to plummet, one of four senators to do so, Fox News reports.
Feinstein and her husband sold anywhere from $1.5 million to $6 million in stock in the California biotechnology company Allogene Therapeutics from Jan. 31 to Feb.18, according to financial disclosure data obtained by The New York Times.
“All of Senator Feinstein’s assets are in a blind trust,” a spokesperson for the senator told the Times. “She has no involvement in her husband’s financial decisions.”
Feinstein is the latest of several senators who appear to have cashed in their stocks after attending a private, all-senators meeting about the coronavirus, including Sens. Kelly Loeffler, R-Ga., Richard Burr, R-N.C., and James Inhofe, R-Okla.
Loeffler, whose husband Jeffrey Sprecher is chairman of the New York Stock Exchange, sold stock on the same day that the senator attended a briefing from two members of the coronavirus task force. They went on to sell between $1.2 million and $3.1 million worth of stock before Feb. 14. Burr sold at least $628,000, possibly up to $1.72 million, worth of stock beginning on Feb. 13, about a week before the markets collapsed. Inhofe sold about $400,000 worth of stock in PayPal, Apple and the real estate company Brookfield Asset Management at the end of January.
A Burr spokesperson said that these transactions were made weeks before the markets showed signs of crashing, while Loeffler denied the report as a “ridiculous and baseless attack.” Inhofe has yet to comment publicly.
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