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ADLF Files New Complaint With SEC Over Allegations That Sen. Perdue May Have Lied to Federal Investigators

The American Democracy Legal Fund (ADLF) filed a new complaint today with the Securities and Exchange Commission(SEC) in light of new evidence that Senator David Perdue has been lying to the media and possibly federal investigators about his stock transactions. While Senator Perdue has repeatedly insisted he has no direct control over his stock transactions, new evidence suggests that he has personally directed his wealth manager to sell stock after he received private information.

Last week, the New York Times published a story that debunks Senator Perdue’s defense of his pandemic-related stock trades. According to the New York Times, Senator Perdue instructed his wealth manager at Goldman Sachs to sell stock in a company called Cardlytics shortly after Senator Perdue received private information about changes in the company from its then Chief Executive Officer.  The New York Times report completely undermined Senator Perdue’s already dubious excuse that he had no control over his personal stock portfolio. He clearly did, and directed his wealth manager to sell stocks after receiving private information. If Senator Perdue had control over this stock transaction, he certainly had control over all of the other suspicious stock purchases he has made. 

“We now know that Senator Perdue has been lying about his stock trades for months,” said ADLF President Brad Woodhouse. “These new allegations also raise the serious question of whether or not Senator Perdue illegally repeated the lie about his lack of control over his stock transactions to federal investigators. Senator Perdue’s actions violated the public trust, his oath of office, and the law. His unethical and illegal behavior must be investigated immediately.”

A copy of the complaint can be viewed here.