Sen. Hoeven Owes Answers to North Dakotans Over Stock Purchase and COVID-19 Briefing

BISMARCK, ND — Just days after he received a briefing on the COVID-19 virus and the U.S. response to what would become a pandemic, Sen. John Hoeven invested between $100,000 and $250,000 into health sciences stock, according to a news report by CNBC. The fund owns shares in pharmaceutical developers and medical device manufacturers, CNBC said. 

Several members of the U.S. Senate are under scrutiny related to the information they received about COVID-19 and subsequent investment decisions. The CNBC story leaves two questions unanswered that could indicate whether Hoeven acted improperly. 

Hoeven has not yet provided documentation for the following questions, according to CNBC: 

  • When did Hoeven’s financial advisor suggest he make the stock purchase?
  • When did he decide to purchase the stock?

Dem-NPL Communications Director Alex Rohr said:

“If there’s nothing to hide, Sen. Hoeven should have no problem producing proof for his assertion that he acted above board. North Dakotans deserve transparency from their elected officials, especially during times of crisis.”

Rohr continued:

“While it was becoming clear we were at risk of a global pandemic, Sen. Hoeven was apparently worried about his own financial well-being, rather than preparing for the lost jobs, school closures, and gaps in childcare his constituents are dealing with now.”