WATCH: CNN Breaks Down Justice Department Investigation Into David Perdue’s Stock Trades

December 1, 2020

Perdue has been lying to Georgians all year about not having “discretion over which trades were made and when” in his active stock portfolio

ATLANTA — After a bombshell New York Times investigation uncovered that Senator David Perdue has been lying to Georgians about not having influence over his stock trades, CNN highlighted the intense scrutiny Perdue has faced in the wake of his private communications with the chief executive of Atlanta-based Cardlytics and his “well-timed” stock trades that followed.


Key excerpts from CNN’s report on the Justice Department’s investigation into David Perdue’s “suspicious” stock trades:

Jon Ossoff: “Every time he has said he’s not personally responsible for profiting from this pandemic, he’s been lying to you. Perdue’s misconduct is repeated and flagrant.”

Kyung Lah: “Georgia Senate Democratic challenger Jon Ossoff is on the attack against Republican incumbent David Perdue. From this news conference, to appearances on Sunday political shows, to a new ad.”

Ossoff TV ad: “He was getting classified briefings about the pandemic, but instead of him being concerned about us, he off selling stock.”

Lah: “The latest attacks from Ossoff target the timing of Senator Perdue’s sales of more than a million dollars worth of stock from Atlanta-based Cardlytics, a financial company where Perdue was once a board member.”

Lah: “In emails obtained by the New York Times, Cardlytics CEO at the time, Scott Grimes, emailed the Senator on January 21st. ‘David, I know you are about to do a call with David Evans. As an FYI, I have not told him about the upcoming changes.’ Senator Perdue responded, ‘I don’t know about a call with David or the changes you mentioned.’”

Lah: “The Cardlytics CEO emailed back the next morning. ‘David, sorry. That email was not meant for you. Wrong David!’ An email mixup. But the next day, on January 23rd, financial disclosure forms show Perdue sold between one to five million in Cardlytics stock. Six weeks later, Cardlytics’ stock plummeted, when the CEO announced he was stepping down, forecasting disappointing earnings.”

Lah: “On March 18th, with Cardlytics stock at $29 a share, financial disclosures show Perdue bought back between one hundred to two hundred and fifty thousand dollars worth of Cardlytics stock. Cardlytics is trading this week at around $120 a share.”


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