Democratic California Rep. Nancy Pelosi and her husband, Paul, unloaded more than $1.5 million in Alphabet stock one month before the Department of Justice announced an antitrust lawsuit against the tech giant.
The Pelosis sold 30,000 shares of Alphabet, the holding company for Google and several other firms, on Dec. 20, 21, and 28. They received between $1.5 million and $3 million for the total sale, netting capital gains of more than $600, according to a financial disclosure form Pelosi, filed on Jan. 12. The DOJ announced its lawsuit against Alphabet on Tuesday.
Pelosi’s office did not immediately respond to the Daily Caller’s request for comment on the matter.
BREAKING🚨:
The DOJ has officially opened up a lawsuit against Google to break up its Ad Technology Monopoly
Pelosi sold $3 Million dollars worth of Google just four weeks ago
Wild.
— Nancy Pelosi Stock Tracker ♟ (@PelosiTracker_) January 25, 2023
The DOJ’s lawsuit alleges that Google has systematically bought out competitors and used its advertising to promote its own products. Alphabet stock dropped $2.71 on Tuesday, but has risen $6.04 since Pelosi sold her stock.
via joemiller
