Probes Of Senators' Trading May Reach Uncharted Waters
Law360 (March 25, 2020, 10:42 PM EDT) -- U.S. senators who unloaded millions of dollars in stock shortly before the record-breaking market declines spawned by COVID-19 could soon face intense regulatory scrutiny, but a tall task lies ahead for authorities as they move into largely uncharted waters.
Reports that Sens. Richard Burr, R-N.C., and Kelly Loeffler, R-Ga., who were privy to closed-door government briefings about the impending pandemic, unloaded stock ahead of the market declines have led some to question the legality of their actions, and others swiftly called for their resignations.
The calls for resignation may be jumping the gun, attorneys told Law360, but regulators will have their...
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