Questions have been raised about Sen. Ron Johnson (R-WI) selling stock before the onset of the coronavirus crisis in the United States. But the financial transaction does not appear to be related to the outbreak of the deadly virus.
On Monday, March 2nd, the Dow Jones Industrial Average set its biggest-ever point gain. But Sen. Ron Johnson (R-WI) was massively selling. Johnson, who has a net worth estimated at over $36 million, made a major transaction.
In a report filed today, Sen. Ron Johnson R-WI with a very large stock sale earlier this month. https://t.co/c9QbjYOcPa— Jamie Dupree (@Jamie Dupree)1584669815.0
The report of Johnson's sale came shortly after Sen. Richard Burr (R-NC) and Sen. Kelly Loeffler (R-GA) came under fire for their dumping stock before the market crash. Burr and Loeffler had received briefings on the coronavirus outbreak prior to selling.
Unlike Burr and Loeffler, Johnson is not a member of Senate health or intelligence committees.
And I want to note that Mike is correct about the Sen. Johnson transaction. It is different. https://t.co/83RvGG6fRY— Jamie Dupree (@Jamie Dupree)1584672810.0
Johnson's sale was reportedly related to a family business which is not publicly traded on an exchange.
Johnson's sale was reportedly announced February 11th, and had been in the works for months.
"A San Francisco-based private equity firm, Gryphon Investors, has made an equity investment in Oshkosh-based Pacur LLC, the supplier of specialty plastic packaging materials to the medical device industry that was led by Wisconsin Sen. Ron Johnson prior to his election to the U.S. Senate in 2010," BizJournals reported. "Details of the transaction were not disclosed."
(Correction: A previous version of this story left out vital information. Raw Story regrets the omission.)