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Texas congressman apologizes for stock purchase

Published On: Nov 28 2013 12:30:50 PM CST
Texas News - Capitol flags
EL PASO, Texas -

(AP) - U.S. Rep. Beto O'Rourke has apologized for participating in Twitter's public stock debut, a possible violation of House ethics rules, and has sold his shares.
    
The first-term El Paso Democrat announced Wednesday on his Facebook page that the House ethics committee advised him to sell his shares in the social network and send a check to the U.S. Treasury. He had purchased $2,600 worth of Twitter shares earlier this month.
    
He says the committee will consider the matter resolved once it receives proof of sale.
    
O'Rourke previously said that after contacting the committee, it was unclear whether he actually broke the Stop Trading on Congressional Knowledge Act passed in 2012.
    
He's told the El Paso Times that he didn't see a November House memo that urged caution about participating in IPOs.