DOJ was investigating Georgia Sen. Perdue's stock trades: Report

Stock trades made by wealthy Sen. David Perdue, R-Ga., raised the eyebrows of the Justice Department this spring, after they came across an email that suggested he was made aware of “upcoming changes” within a company two days prior to a major stock sale.

The DOJ probe, which was reported on by the New York Times, focused on Perdue's impeccably timed sale of  $1 million to $5 million in Cardlytics stock at $86 a share before it plunged in late January, as the coronavirus pandemic began to take hold across the world, according to congressional disclosures.

US ECONOMY GROWS AT RECORD 33.1%, ACCORDING TO SECOND ESTIMATE

Cardlytics, an Atlanta-based financial technology company,

The chief executive of Cardlytics, where Perdue was formerly a board member, Scott Grimes emailed Perdue days before with a vague message.

Weeks later, in March, after the company’s stock plunged further after an unexpected leadership shakeup and lower-than-forecast earnings, Perdue bought the stock back for $30 a share, investing between $200,000 and $500,000.

Those shares have now quadrupled in value, closing at $121 a share on Tuesday.

The DOJ ultimately concluded that the email contained no meaningful nonpublic information and declined to pursue charges, closing the case this summer, according to the NYT.

STOCK FUTURES TRADE CAUTIOUSLY AFTER RECORD DAY

Still, the stock trades have been a flashpoint for Democratic opponent Jon Ossoff-- particularly as Perdue is poised to defend his seat in a closely watched runoff race in Georgia come January.

Ossoff has used the issue to pit Perdue against constituents who were struggling under the financial and health perils posed by COVID-19 and paint the incumbent senator as a "crook."

It's illegal to use nonpublic information gained as a company insider or member of Congress to make investment decisions, but Perdue's camp has denied any wrongdoing as far as the financial tech stocks are concerned.

“The bi-partisan Senate Ethics Committee, DOJ and SEC all independently and swiftly cleared Senator Perdue months ago, which was reported on," Perdue spokesperson John Burke said, according to the Associated Press.

CLICK HERE TO READ MORE ON FOX BUSINESS

The Associated Press contributed to this report.