Earlier this year, embattled Sen. David Perdue of Georgia, one of two multimillionaire Republicans facing tight runoff elections that could decide control of the Senate, sold $1 million worth of stock in Cardlytics, a financial firm where he once sat on the board. What makes this stock sale especially interesting is that six weeks later, an executive shake-up at Cardlytics that sent the stock tumbling. After the share price hit its low point in March, Perdue bought back up to $500,000 worth of stock, which has since quadrupled in value.
The trades drew federal scrutiny, but Perdue argued that he did not personally direct any of his transactions. The New York Times reported last week, however, that Department of Justice investigators have found that Perdue had instructed his Goldman Sachs wealth manager to make the sale two days after receiving a personal email from the Cardlytics CEO that advised of