Sen. Richard Burr at the Senate floor in February. Photo: Samuel Corum/Getty Images

Senate Intelligence Chairman Richard Burr (R-N.C.) was hit with a federal lawsuit Monday over his sell-off of shares before the market crashed over concerns about the novel coronavirus pandemic.

Details: Wyndham Hotels and Resorts shareholder Alan Jacobson alleges "acts of securities fraud committed by [Burr]" and "abuse of his powers as a U.S. Senator" when he sold his $150,000 stake in the business. Burr strongly denies any wrongdoing and asked the Senate Ethics Committee Friday to review the sell-offs.

The big picture: Burr had been receiving daily coronavirus updates from the intelligence community in his role as committee chairman, per a Feb. 27 report by Reuters. After writing a Feb. 7 Fox News op-ed that said the U.S. is "better prepared than ever before" to face public health threats such as COVID-19, he sold between $628,000 and $1.72 million in stocks on Feb. 13, ProPublica reported.

What they're saying: "Senator Burr owed a duty to Congress, the United States government, and citizens of the United States, including Plaintiff, not to use material nonpublic information that he learned by virtue of his duties as a United States Senator in connection with the sale or purchase of any security," the lawsuit states. "Senator Burr breached that duty by selling stock, including Wyndham stock, based on that material nonpublic information."

"Had Plaintiff and the market known of the material nonpublic information in Senator Burr’s possession regarding COVID-19, and on which Senator Burr traded, Wyndham’s stock price on February 13, 2020 would have been substantially lower. Senator Burr and his wife sold up to $150,000 of Wyndham stock on that date, and therefore he and his wife pocketed up to $150,000 in illegal insider trading proceeds at Plaintiff’s expense.
Plaintiff suffered damages because, in reliance on the integrity of the market, he maintained his stock holdings in Wyndham at artificially inflated prices as a result of Defendant’s violations of Section 10(b) and 20A of the Exchange Act."
— Lawsuit excerpt

The other side: Axios has contacted Burr for comment about the lawsuit. He has said previously that he sold the stocks because he "closely followed CNBC's daily health and science reporting out of its Asia bureaus at the time."

Read the lawsuit:

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Illustration: Sarah Grillo/Axios

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CDC: 3,689 COVID-19 or coronavirus-like cases found on cruise ships in U.S.

Cruise Ships docked in April at the port at Marina Long Beach due to a no-sail order in Long Beach, in California. Photo: Apu Gomes/AFP via Getty Images

There have been at least 3,689 COVID-19 or coronavirus-like illness cases on cruise ships in U.S. waters, "in addition to at least 41 reported deaths," the Centers for Disease Control and Prevention said late Wednesday.

Driving the news: The CDC released the data from the period of March 1 through Sept. 29 in an emailed statement confirming the extension of a No Sail Order for cruise ships through Oct. 31, as first reported by Axios' Jonathan Swan on Tuesday in his article revealing CDC director Robert Redfield was overruled in a push to extend the order into 2021.

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Facebook removes Trump ads tying refugees to COVID-19

Photo Illustration: Aïda Amer/Axios. Photo: Saul Loeb/AFP via Getty Images

Facebook said Wednesday that it was removing a series of ads from President Trump's campaign that linked American acceptance of refugees with increased coronavirus risk, a connection Facebook says is without merit.

Why it matters: The ads were pulled after they received thousands of impressions and are a sign that the Trump campaign continues to test the limits of social media rules on false information.