Schumer Says Trump's HHS Nominee May Have Broken The Law

(RTTNews) - President-elect Donald Trump's nominee for Health and Human Services Secretary Rep. Tom Price, R-Ga., may have broken the law with a questionable stock purchase, according to Senate Minority Leader Chuck Schumer, D-N.Y.

Schumer called for an investigation of Price after CNN reported the Congressman bought up to $15,000 worth of stock in Zimmer Biomet (ZBH) just days before introducing legislation that would have directly benefited the medical device maker.

"This is a very narrow, specific company that dealt with implants—hip and knee—and the legislation specifically affects implants. He puts it in a week after he buys the stock? That cries out for an investigation," Schumer told CNN.

Schumer told CNN it could very well be a violation of the law if Price knew about the stock purchase when he introduced the measure delaying a regulation that would have harmed the company.

However, a spokesman for Trump's transition team said the stock was bought by a broker and that Price was not aware of the purchase until after he had introduced the legislation.

"CNN recently broadcast a segment on Dr. Tom Price's finances that was junk reporting," said transition spokesman Phil Blando. "Any effort to connect the introduction of bipartisan legislation by Dr. Price to any campaign contribution is demonstrably false."

He added, "The only pattern we see emerging is that Senate Democrats and their liberal media allies cannot abide the notion that Dr. Tom Price is uniquely qualified to lead HHS and will stop at nothing to smear his reputation."

Schumer told CNN it would be kind of strange that a broker would pick the stock totally independently of Price introducing legislation that's so narrow and specific to the company.