Pelosis sell up to $3 million in Google stock weeks before Justice Department files antitrust suit
In late December, the Pelosis sold between $1.5 million to $3 million in Alphabet stocks and made an undisclosed profit.
Congresswoman and former House Speaker Nancy Pelosi and her husband sold 30,000 shares of Alphabet, the parent company of Google, in a transaction worth up to $3 million, weeks before the Justice Department filed an antitrust lawsuit against the tech giant.
From Dec. 20 to Dec. 28, the Pelosis sold $1.5 million to $3 million in Alphabet stocks, making an undisclosed profit, according to a federal filing. At the time, those stocks were trading for $86–$89 a share, according to Google Finance.
Pelosi's husband, Paul Pelosi, is an investor.
About one month later, on Tuesday, the Justice Department and eight state attorneys general filed an antitrust lawsuit against Google for allegedly monopolizing advertisements across the internet.
While Google's stock is worth $95.22 on Thursday, shares fell nearly $5 after the government announced the lawsuit.
However, not all of the Pelosis' transactions were profitable. The couple lost more than $2.5 million when selling shares of PayPal, Netflix, Tesla and more, according to the filing.
Sen. Josh Hawley (R-Mo.) on Tuesday introduced the Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act taking aim at the former House speaker over her investments.