Corrupt David Perdue: “Well-Timed” Stock Trades And “Sordid Financial Abuses”

December 14, 2020

Senator Perdue is the Senate’s “most prolific stock trader by far”

ATLANTA — As scandal-plagued Senator David Perdue has come under heavy fire throughout his struggling campaign for shameful acts of corruption, the Democratic Party of Georgia breaks down Perdue’s self-dealing, brazen corruption, and efforts to enrich himself by highlighting Perdue’s “unusual,” “well-timed,” and “suspicious” stock trades –– often in industries he oversaw.

  1. Perdue bought up to $60,000 worth of stock in Halyard Health, a medical device company that specialized in pain management alternatives to opioids, in the week before a key Senate hearing on the opioid crisis. Perdue ultimately purchased up to $150,000 in stock before selling the stock as the legislation moved through Congress, reaping a “terrific return.”
  2. Perdue purchased Pfizer stock one week before the company publicly announced it would be developing a coronavirus vaccine, raising more questions about what Perdue knew and when.
  3. Perdue traded at least hundreds of thousands of dollars worth of bank stocks while passing pro-bank legislation on the Senate Banking Committee.
  4. Perdue bought Navy contractor stock right before assuming control of the Senate Seapower Subcommittee, then sold the stock for a profit right as he was helping  shape a bill that directed taxpayer funding to that contractor.
  5. Perdue sold at least $1 million dollars of stock in an Atlanta-based tech company right before it plunged. Weeks later, Perdue quickly bought back the stock after it lost two-thirds of its market value, avoiding a “sharp loss” and “reap[ing] a stunning gain by selling and then buying the same stock” of a company on whose board of directors he once served.
  6. Perdue pushed to roll back regulations on prepaid debit cards, then acquired stock in a company that stood to benefit from the rollback.
  7. Perdue bought stock in a PPE supplier the same day the Senate received a private briefing on the novel coronavirus.

“Georgia voters are turning out at the polls in droves today because they’re tired of the blatant corruption Senator Perdue has shown during his term in Washington,” said Braxton Brewington, spokesman for the Democratic Party of Georgia. “From trading stocks in industries he oversees in Congress to buying and offloading shares while having access to private information, it’s clear Perdue is only out for himself.”


Other News from DPG

Questions? Tips? Call anytime.

Georgia Voter Protection Line


Democratic Party of Georgia

Help us elect Democrats in Georgia.