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Loeffler's stock trading scandal starting to spiral out of control: CBS reporting that Loeffler’s husband (CEO of parent company of NY Stock Exchange) sold $3.5M in ICE shares on Feb 26 cbsnews.com/news/nyse-jeff… #GASen #gapol
Ethics expert: “It's appalling… These are people in a privileged position, and it looks like they took advantage of it.” #GASen #gapol
cbsnews.com/news/nyse-jeff…
“Experts told CBS MoneyWatch Loefflier's Senate disclosure form, filed March 12, should have included any trades made by her spouse as well as by her. That would include Sprecher's ICE stock sales, even if he was the sole owner of the shares” #GASen #gapol cbsnews.com/news/nyse-jeff…
"They should have been disclosed," said Thomas Gorman, a partner at law firm Dorsey & Whitney and an expert in securities law who spent seven years at the SEC… "You shouldn't be able to walk around rules like that" cbsnews.com/news/nyse-jeff… #GASen #gapol
This is totally normal:
- ICE declined to comment directly.
- ICE declined to say whether the company or its board is investigating them.
- Sprecher could not be reached for comment.
- Loeffler's Senate office did not return comment.
cbsnews.com/news/nyse-jeff… #GASen #gapol
more of that: “an ICE spokerperson declined to comment as to whether Sprecher and Loeffler's sales of the shares of ICE were made by a financial adviser or directly by either Sprecher or Loeffler” cbsnews.com/news/nyse-jeff… #GASen #gapol
the optics here... “ICE said it requires executives to give the company 30 days notice before selling or buying shares. In this case, that would have been January 26, two days after Loeffler's Senate briefing on the coronavirus” cbsnews.com/news/nyse-jeff… #GASen #gapol
read the whole story from start to finish >> cbsnews.com/news/nyse-jeff…
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