American Democracy Legal Fund President Brad Woodhouse released the following statement calling on the Securities and Exchange Commission (SEC) to investigate Kelly Loeffler’s lucrative and accelerated compensation as she departed her husband’s publicly traded company:
“Senator Kelly Loeffler’s compensation deal with her husband’s publicly-traded company doesn’t pass the smell test. It raises serious questions on whether Senator Loeffler received this highly unusual golden parachute as a favor she would then repay to her former employer in her new position as a United States Senator. Considering within weeks of being appointed to the Senate, Senator Loeffler started using her private briefings to buy and sell stocks at a huge profit, we think we know the answer to these questions. The SEC must begin an immediate investigation into Senator Loeffler’s sweetheart deal with her former employer.”