Nancy Pelosi Sold $3 Million in Google Stocks a Month Before DOJ Antitrust Lawsuit

Joshua Ramos
Source: People

The 52nd Speaker of the House of Representatives, Nancy Pelosi, sold $3 million worth of Google stocks just one month before the U.S. Government filed an antitrust lawsuit against the company. A report shows the sale occurring on Jan. 28 in four separate transactions.

Yesterday saw the U.S. Department of Justice file its second antitrust lawsuit against the company in two years. Moreover, the lawsuit was focused on the company’s online advertising, seeking to make the company divest some of its business.

Pelosi Sold Google Stocks Before DOJ Lawsuit

It was a story that certainly caught the eye of many, as the U.S. DOJ filed yet another antitrust lawsuit against one of the largest corporations n the world. Google remains among the most reputable and utilized platforms in the country. Subsequently, leading to a lawsuit from authorities on the potential issues of that prominence .

The lawsuit focused on the company’s online advertising business. Furthermore, it represents a lawsuit filed under the Biden Administration after a separate antitrust lawsuit was issued toward the company in 2020 under the Trump Administration.

The prior lawsuit accused the platform of “alleged monopoly power to cut off competition for Internet search through exclusionary agreements,” according to CNBC. Moreover, that case is expected to go to trial at some point in September.

Source: News 18

Interstingly, the 52nd Speaker of the House of Representatives, Nancy Pelosi, sold $3 million worth of Google stocks just before the second U.S. DOJ antitrust lawsuit filed yesterday. Pelosi has continually been the subject of similar controversy, So much so, that one Senator introduced a bill under her namesake.

The aforementioned Pelosi Bill is a piece of legislation that would prohibit members of congress from trading and owning stocks. Interestingly, it is that practice, and its peculiar timing, that has many questioning the transaction.