Wilbur Ross Says He Will Sell Stock After Watchdog Warns of Potential for Criminal Violation

Three business days after Mr. Ross was contacted by The New York Times for a forthcoming article about those ties, he took out a short position valued at between $100,000 and $250,000 on Navigator’s stock — essentially a bet that the stock’s value would decrease — putting him in a position to potentially profit from negative news about the company. The company’s stock price fell roughly 4 percent before Mr. Ross closed his position, 11 days after The Times and the International Consortium of Investigative Journalists published an article on his ties to Navigator.

In a response in June, Mr. Ross said that the information the reporter had contacted him about was not “market-moving” and that making money was not the goal of the short sale.

The letter from the Office of Government Ethics

... read more at: https://www.nytimes.com/2018/07/13/us/politics/wilbur-ross-stocks.html