You can now read 5 articles in a month for free on BostonGlobe.com. Read as much as you want anywhere and anytime for just 99¢.

Markey challenger files ethics complaint over Herbalife probe

A Republican challenging Senator Edward Markey alleged  the Democrat used his political office to manipulate stock.

Senate TV/Reuters

A Republican challenging Senator Edward Markey alleged the Democrat used his political office to manipulate stock.

WASHINGTON — A Republican who plans to challenge incumbent Democrat Edward J. Markey in this year’s US Senate election said Monday he filed an ethics complaint alleging that Markey used his political office to manipulate stock.

Markey has been under fire for writing letters to federal regulators urging an investigation of Herbalife after his staff met with William Ackman, a hedge fund investor who has made a $1 billion investment in a short position on Herbalife stock that will pay off if the company’s stock price falls.

Continue reading below

Herbalife, which sells nutritional supplements, saw its stock fall more than 14 percent in January after Markey’s initial letters and then 7 percent last week after the company revealed it was being investigated by the Federal Trade Commission.

Markey has said his staff did not tell him Ackman stood to gain financially from his actions. But he said he still would have written the letters because of allegations that Herbalife’s business practices were hurting consumers.

Brian J. Herr, a Hopkinton selectman who has announced he will run against Markey, said in a press release he is filing the complaint with the Senate Ethics Committee.

Continue reading it below

“All you have to do is connect the dots to easily see that Senator Markey used his public office to manipulate the stock of a publicly traded company in order to financially benefit a campaign donor,” Herr said in a statement.

Ackman donated $32,400 to the Democratic Senatorial Campaign Committee in April but not directly to Markey.

In a statement, Markey did not directly address Herr’s allegations but said he has fought for consumers his entire career.

Loading comments...
Subscriber Log In

You have reached the limit of 5 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com
Already a subscriber?
Your city. Your stories. Your Globe.
Yours FREE for two weeks.
Enjoy free unlimited access to Globe.com for the next two weeks.
Limited time only - No credit card required!
BostonGlobe.com complimentary digital access has been provided to you, without a subscription, for free starting today and ending in 14 days. After the free trial period, your free BostonGlobe.com digital access will stop immediately unless you sign up for BostonGlobe.com digital subscription. Current print and digital subscribers are not eligible for the free trial.
Thanks & Welcome to Globe.com
You now have unlimited access for the next two weeks.
BostonGlobe.com complimentary digital access has been provided to you, without a subscription, for free starting today and ending in 14 days. After the free trial period, your free BostonGlobe.com digital access will stop immediately unless you sign up for BostonGlobe.com digital subscription. Current print and digital subscribers are not eligible for the free trial.