A law firm associated with the Trump transition team has withdrawn its request for a retraction on a story about Rep. Tom Price’s stock trades.
Dentons Law Firm wrote to CNN Tuesday to protest a story about Price’s purchase of stock in a medical device maker right before issuing regulation that would have affected the company.
The firm wrote a new letter on Thursday that said the letter asking for a retraction shouldn’t have been sent because it represents CNN in other legal matters.
“This will confirm that our firm no longer represents Dr. Price on any matter relating to CNN,” according to the letter. “As such, CNN has no obligation to respond to the letter.”
Price is an orthopedic surgeon and Georgia House lawmaker who is nominated to serve as President-elect Trump’s Health and Human Services secretary.
CNN reported that Price bought between $1,000 to $15,000 in stock in Zimmer Biomet, a medical device maker. Less than a week later, Price introduced legislation to delay a Medicare rule on reimbursements for hip and knee replacements, which could have benefited Zimmer.
Price said during his confirmation hearing Wednesday that he didn’t know he had purchased the stock when he introduced the legislation. The stock was bought by his broker as part of diversifying his portfolio and he didn’t know of the purchase.
Price added that he disclosed the purchase per House rules.
He was also grilled by Democrats during his confirmation hearing on other stock deals, including a purchase of discounted stock with Australian company Innate Immunotherapeutics.
While the firm told CNN that it has no obligation to answer, that may not be the end of the matter.
The Trump transition team told the Washington Post that any letter that would withdraw the transition team’s retraction demand is not authentic.
