El Paso congressman's IPO stake in Twitter questioned
Last edited Wed Nov 27, 2013, 04:05 AM - Edit history (1)
AUSTIN — U.S. Rep. Beto O'Rourke has reported possibly violating ethics laws after participating in Twitter's public stock debut, and the financial disclosures of another Texas congressman has been questioned by a newspaper investigation.
O'Rourke, a first-term El Paso Democrat, bought $2,600 worth of Twitter shares earlier this month when the social network made Wall Street's most anticipated public offering of the year, the El Paso Times reported Tuesday.
O'Rourke reported to the House Ethics Committee this week that his participation may have violated a new law aimed at stopping members of Congress from engaging in certain stock transactions and getting special deals. He told the newspaper he didn't see a November House memo that urged caution about participating in IPOs.
But O'Rourke said that after contacting the ethics committee to report the possible violation, he was left unsure whether he actually broke the Stop Trading on Congressional Knowledge Act passed in 2012.
More at http://www.dallasnews.com/news/politics/national-politics/20131126-el-paso-congressman-s-ipo-stake-in-twitter-questioned.ece .
[font color=green]At least O'Rourke is coming forward on his own volition.[/font]
