Trump 2020 campaign director of press communications Erin Perrine and Center for Medical Progress founder David Daleiden react.
Trump 2020 campaign director of press communications Erin Perrine and Center for Medical Progress founder David Daleiden react.
WASHINGTON — As the ravages of the novel coronavirus forced millions of people out of work, shuttered businesses and shrank the value of retirement accounts, the Dow Jones Industrial Average plunged to a three-year low. But for Sen. David Perdue, a Georgia Republican, the crisis last March signalled something else: a stock buying opportunity. And for the second time in less than two months, Perdue's timing was impeccable. He avoided a sharp loss and reaped a stunning gain by selling and then buying the same stock: Cardlytics, an Atlanta-based financial technology company on whose board of directors he once served. On Jan. 23, as word spread through Congress that the coronavirus posed a major economic and public health threat, Perdue sold off $1 million to $5 million in Cardlytics stock at $86 a share, according to congressional disclosures. Weeks later, in March, after the company’s stock plunged following an unexpected leadership shakeup and lower-than-forecast earnings, Perdue bought the stock back for $30 a share, investing between $200,000 and $500,000. Those shares have now quadrupled in value, closing at $121 a share on Tuesday. The Cardlytics transactions were just a slice of a large number of investment decisions made in the early days of the pandemic by Perdue and other senators. They stirred public outrage after it became clear that some members of Congress had been briefed on the economic and health threat the virus posed. The transactions were mentioned briefly in a story published by the Intercept in May. Now that Perdue is locked in a pitched battle for reelection in a Jan. 5 runoff, his trades during a public health and economic crisis have become an issue in what already has become a negative, expensive campaign that will determine which party controls the Senate. There is no definitive proof that Perdue, who is among the wealthier members of the Senate, acted on information gained as a member of Congress or through his long-standing relationship with company officials. It's illegal to use nonpublic information gained as a company insider or member of Congress to make investment decisions. But legal experts say the timing of his sale, the fact that he quickly bought Cardlytics stock back when it had lost two-thirds of its market value and his close ties to company officials all warrant scrutiny. “This does seem suspicious,” said John C. Coffee Jr., a Columbia University law school professor who specializes in corporate and securities issues. But he added, “You need more than suspicions to convict.” The Perdue campaign declined a request for an interview with the senator. In a statement, Perdue spokesperson John Burke said the senator had been cleared of wrongdoing but did not provide details. “The bi-partisan Senate Ethics Committee, DOJ and SEC all independently and swiftly cleared Senator Perdue months ago, which was reported on," Burke said. Perdue's opponent, Democrat Jon Ossoff, has seized on his stock trading while trying to brand him as a “crook.” Perdue is not the only senator on the ballot in Georgia. Sen. Kelly Loeffler, also a Republican, is running against Democrat Raphael Warnock in a bid to complete the remainder of retired Sen. Johnny Isakson's term. Perdue's Cardlytics transactions fit into a broader pattern of stock moves he made when the coronavirus first struck the U.S. At the time, Perdue publicly maintained that the economy was strong and praised President Donald Trump during a Feb. 24 interview on Fox News Channel for “executing the greatest economic turnaround in U.S. history.” A series of swift transactions in his portfolio told a different story, however, showing the senator dumped some company stocks, while investing in others — like protective equipment maker DuPont and pharmaceutical company Pfizer — that were poised to do well during the pandemic. Perdue has previously said that outside financial advisers make most of his trades. But Donna Nagy, an Indiana University law professor, said that type of arrangement doesn’t preclude Perdue from directing an adviser to make specific transactions. She said one way for members of Congress to avoid questions about their financial holdings is to put them in a blind trust, which Perdue has not done. “All of these questions about the motivations behind our members of Congress and their personal securities trading could be alleviated if Congress passed a law that limited investments,” said Nagy, who specializes in securities law. “Ordinary citizens should not have to question members of Congress about their investments.” The issue was enough of a liability that Perdue abruptly sold off between $3.2 million and $9.4 million of his stock portfolio over a four-day period in mid-April, according to an Associated Press review of mandatory financial disclosures he has submitted to the Senate. He did not sell his stock in Cardlytics. Still, Perdue has largely avoided the same degree of scrutiny faced by some of his colleagues. Republican Sen. Richard Burr of North Carolina drew the most attention and stepped down as Senate Intelligence Committee chair amid a probe of his sale of upward of $1.7 million in stock, which came when he was privately warning some well-heeled constituents about the virus while publicly downplaying the threat. Cardlytics works at the intersection of banking and online marketing. It helps run rewards programs for financial institutions, including Wells Fargo, using data the banks have gathered on their customers to market to them — similar to what Facebook does with targeted ads. The company did not respond to a request for comment. After the March turmoil, its share price dramatically rebounded. Lynne Laube, Cardlytics' current CEO, said the pandemic had a lot to do with it, driving consumer interest in savings programs. “I hate to say this pandemic is playing in our favour, but it’s playing in our favour,” she said during an earnings call in May. Perdue acquired 75,000 shares in Cardlytics through stock options offered for his service on the company’s board from 2010 to 2014, when he stepped down after winning his Senate seat, Securities and Exchange Commission filings show. The company, which at the time had not yet gone public, also offered him options that would become available in October 2020 and January 2022. Perdue's latest financial disclosures do not indicate whether he has exercised the options that became available in October. But according to Coffee, the Columbia University law professor, it's an unusual move by the company. “I’ve never seen options extended from 2014 to 2022," he said. "That’s a very long extension." While Perdue left the company's board, he has maintained ties to some of its executives, who have donated more than $30,000 to his political committees. Donations made to Perdue account for nearly 80% of all giving to federal candidates by Cardlytics employees over the past decade, records show. Perdue, meanwhile, has used social media to publicize the company. In August 2016, he took a tour of its office and posed for a photo with Laube and then-CEO Scott Grimes, which he posted to Facebook. In fall 2019, he introduced Laube and Grimes at a gala in Atlanta, where they received a business achievement award. Isakson, who served with Perdue, took steps to avoid the type of scrutiny Perdue is now facing. Isakson, a Republican, put most of his own holdings in a blind trust after some of his assets drew unwanted attention in 2012. “I said I need to be as patently pure and patently clean as anybody, and the best way to do that is a blind trust,” Isakson, who served on the Senate’s finance and ethics committees, told the Atlanta Journal Constitution in 2017. “I don’t know what I own.” Brian Slodysko And Richard Lardner, The Associated Press
Authorities warned of hazardous conditions in Bozeman, Montana on November 25, after a snow shower swept through the region.Footage uploaded to Twitter shows a suburban town blanketed after a light snow shower swept through south-west Montana.The National Weather Service warned locals to use caution when travelling, as the snow fall caused slippery roads and low visibility. Credit: Whitney Bermes via Storyful
The reality announced the happy news on Wednesday
The latest Google Pixel deals for Black Friday 2020, featuring Pixel 5, 4, and 3 offers
The Semiconductor Foundry Market will grow by USD 26.47 bn during 2020-2024
Fans cheered and partied in the streets of Buenos Aires, Argentina, in honour of world-cup winning soccer star Diego Maradona who was announced dead at age 60, on November 25.This video shows fans dancing and chanting the late football star’s name at the city’s Plaza de la Republica.Argentina’s president announced they would decree a three-day mourning period for Maradona, reports said.Maradona had a highly decorated career, playing over 180 games for Italian Serie A club Napoli winning two titles and making 91 appearances for Argentina, including leading the team to win the 1986 World Cup in Mexico. A spokesperson for Maradona said the star died on Wednesday of a heart attack two weeks after being released from hospital following brain surgery, according to reports. Credit: Lara Sainz Micheli via Storyful
Assassin’s Creed isn’t the only game getting a key update for the new consoles today, as EA pushed an update for Star Wars Squadrons. On PS5, that includes just improved visual quality and lighting, while Xbox Series X/S updates include a toggle for 120 FPS output with reduced quality, as well as support for displays with variable refresh rate and resolution that now goes up to 4K.
NEW YORK, Nov. 25, 2020 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Bayerische Motoren Werke AG (OTC: BMWYY, BAMXF) between November 3, 2015 and September 24, 2020, inclusive (the “Class Period”), of the important December 28, 2020 lead plaintiff deadline in the first filed securities class action commenced by the firm. The lawsuit seeks to recover damages for BMW investors under the federal securities laws. To join the BMW class action, go to http://www.rosenlegal.com/cases-register-1749.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email email@example.com or firstname.lastname@example.org for information on the class action.According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) BMW kept a “bank” of retail vehicle sales that it used to meet internal monthly sales targets regardless of when the sales actually occurred; (2) BMW artificially manipulated sales figures by having dealers register cars as sold when the cars were still in inventory; (3) as a result, BMW’s key operating metrics were inaccurate and misleading; and (4) as a result, defendants’ statements about BMW’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 28, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-register-1749.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at email@example.com or firstname.lastname@example.org.NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR’S ABILITY TO SHARE IN ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD PLAINTIFF.Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm.Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm’s attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors. Attorney Advertising. Prior results do not guarantee a similar outcome.\-------------------------------Contact Information: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 40th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 email@example.com firstname.lastname@example.org email@example.com www.rosenlegal.com
New Delhi [India], November 26 (ANI): Delhi metro services to and from the National Capital Region (NCR) will be restricted on Thursday till 2 pm in view of the November 26-28 farmers' rally against the new farm laws.
South Korea has recorded more than 500 new coronavirus cases for the first time in about eight months. Government records show that 402 of the 583 newly reported cases were found in the Seoul metropolitan area, where half of the country’s 51 million people reside. Officials say the latest bout is more worrisome because many clusters are linked to schools, private tutoring academics, offices, hospitals and family gatherings.
Fans cheered and partied in the streets of Buenos Aires, Argentina, in honour of world-cup winning soccer star Diego Maradona who was announced dead at age 60, on November 25.This video shows fans dancing and chanting the late football star’s name at the city’s Plaza de la Republica.Argentina’s president announced they would decree a three-day mourning period for Maradona, reports said.Maradona had a highly decorated career, playing over 180 games for Italian Serie A club Napoli winning two titles and making 91 appearances for Argentina, including leading the team to win the 1986 World Cup in Mexico. A spokesperson for Maradona said the star died on Wednesday of a heart attack two weeks after being released from hospital following brain surgery, according to reports. Credit: Anngelo Di Filippo via Storyful
Rapper is up for three awards this year, including Best Melodic Rap Performance, Best Rap Song and Best Music Video
Leaders of Britain's biggest unions vow to resist chancellor's freeze on workers who "risked everything".
Paramount Pictures released the first look at its adaptation of the Scholastic’s popular children’s book Clifford the Big Red Dog and the large canine looked very red… or something close to it. As soon as the teaser trailer was dropped Twitter erupted with reactions — and not many of them were good. Just search “Clifford” on […]
Relations between the two companies are at an all-time low.
Check our comparison of the latest Ring Alarm deals for Black Friday 2020, including all the latest savings on Ring smart home products
Separate figures show there have now been 72,000 deaths involving Covid-19 in UK
ABBOTSFORD, B.C. — A school superintendent in British Columbia is apologizing to an Indigenous mother who pointed out a homework assignment that asked students to find "positive experiences with residential schools."Krista MacInnis said she began crying when her daughter asked for help on the Grade 6 assignment from William A. Fraser Middle School in Abbotsford. "I felt extremely angry, I felt baffled. I think I went through all aspects of emotion in 10 seconds flat," she said in an interview.MacInnis said she asked her daughter to erase the work she had done on the assignment, which included the web address for a blog post entitled "Balancing the Biased 'Genocide' Story About Residential Schools."Canada's Truth and Reconciliation Commission detailed how the residential school system played a central role in perpetrating cultural genocide against Indigenous people.MacInnis said she's heard from the superintendent of the Abbotsford school district, Kevin Godden, who told her as a person of colour he was outraged by the assignment her daughter received.In a statement, Godden said the homework is a "disservice to the district's commitment to truth and reconciliation.""We are deeply sorry for any harm caused to the parents, students, families and the Indigenous community at large."MacInnis said she has also heard from the school's principal, who told her he has spoken with the teacher and they would both like to apologize to the mother and her daughter."I'm disgusted that this could even be something that would fall in the hands of an 11-year-old child," MacInnis said in an interview."I haven't even gotten a chance to go into detail with her about how horrendous residential schools were."MacInnis posted her reaction to the assignment on the social media platform TikTok in a video that now has tens of thousands of views.Godden said the school district's Indigenous education department works to help teachers "infuse Indigenous knowledge and perspectives into the classroom."The district is committed to ensuring all materials provided to students are "culturally responsive" and recognize its responsibility to alert educators to racism and implicit bias, he said.The district is continuing to investigate the matter, Godden said.Education Minister Rob Fleming said the ministry contacted the school district when the assignment was brought to its attention."True reconciliation requires all of us to acknowledge the history and pain of this dark and shameful period in our history, which is now a critically important part of today’s B.C. school curriculum," he said in a statement."Any teachings that detract or dismiss the realities of residential schools have no place in our education system."This report by The Canadian Press was first published Nov. 25, 2020.The Canadian Press
A Cambodian court was due on Thursday to start the treason trial of more than 100 members and backers of the political opposition, in a case condemned by activists as a move by long-serving premier Hun Sen to crush his rivals. A total of 121 defendants, all tied to the dissolved Cambodia National Rescue Party (CNRP), were summoned to appear on Thursday but many have fled into exile, convinced they would not get a fair hearing. "It will be a show case with a verdict already decided, not by the judges but by the regime," CNRP's former deputy leader Mu Sochua told Reuters, adding that only 50 defendants would appear.
(Bloomberg) -- The rally that’s propelled global equities to all-time highs this month cooled on Thursday, while crude oil continued advancing toward $46 a barrel. The dollar held losses.Asian shares reversed an initial decline, helped by a rise in Japan, while S&P 500 futures ticked up. Earlier, the S&P 500 Index pulled back from a record, and the Dow Jones Industrial Average fell below 30,000. Treasury futures edged up after U.S. bonds ended Wednesday flat.A deluge of data brought the first back-to-back rise in weekly U.S. jobless claims since July, an uptick in durable goods orders and a widening trade deficit. Volume dwindled at the end of the U.S. session as traders headed out for the Thursday holiday that will keep markets closed.Minutes from the Federal Reserve’s latest meeting did little to alter views. The central bank discussed at the Nov. 4-5 meeting providing more guidance on its bond-buying strategy “fairly soon” but didn’t see a need for immediate adjustments. An MSCI gauge of global shares has stalled after gaining 13% in November -- still set for the best month since 1988 -- on progress toward a coronavirus vaccine.“We believe the market rally can continue from here powered by all the positive vaccine news, more political clarity with a peaceful White House transition and with more stimulus to come,” Xi Qiao, managing director at UBS Global Wealth Management, said on Bloomberg TV. “We are already seeing a strong rotation into cyclical and reopening trades with the vaccine news and we expect this trend to continue,” she said.Elsewhere, South Korea’s central bank kept its key interest rate unchanged at 0.50%, as expected.Here are some key events coming up:U.S. celebrates the Thanksgiving holiday on Thursday. The stock market closes at 1 p.m. on Friday.The week ends with Black Friday, the traditional start of the U.S. holiday shopping season.Here are the main moves in markets:StocksS&P 500 Index futures rose 0.2% as of 10:30 a.m. in Tokyo. The gauge slid 0.2% on Wednesday.Japan’s Topix index gained 0.1%.Shanghai Composite was flat.Hang Seng index was little changed.South Korea’s Kospi index rose 0.2%.Euro Stoxx 50 futures climbed 0.1%.CurrenciesThe Bloomberg Dollar Spot Index was little changed.The euro bought $1.1924.The offshore yuan traded at 6.5638 per dollar.The yen rose 0.1% to 104.35 per dollar.BondsThe yield on 10-year Treasuries was at 0.88% on Wednesday.Australia’s 10-year yield was at 0.92%.CommoditiesWest Texas Intermediate crude gained 0.5% to $45.93 a barrel.Gold added 0.1% to $1,809.74 an ounce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.