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Saturday, March 6, 2021

Texas congressman apologizes for stock purchase

 

EL PASO, Texas (AP) — U.S. Rep. Beto O’Rourke has apologized for participating in Twitter’s public stock debut, a possible violation of House ethics rules, and has sold his shares.

The first-term El Paso Democrat announced Wednesday on his Facebook page that the House ethics committee advised him to sell his shares in the social network and send a check to the U.S. Treasury. He had purchased $2,600 worth of Twitter shares earlier this month.

He says the committee will consider the matter resolved once it receives proof of sale.

O’Rourke previously said that after contacting the committee, it was unclear whether he actually broke the Stop Trading on Congressional Knowledge Act passed in 2012.

He’s told the El Paso Times that he didn’t see a November House memo that urged caution about participating in IPOs.

 

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Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

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