Prof. Richard Painter Interviewed by Star Tribune About Rep. Morrison’s Decision to Not Own Stock

Professor Richard Painter, S. Walter Richey Professor of Corporate Law, was interviewed by the Minnesota Star Tribune about Rep. Kelly Morrison saying she will no longer own individual stock. Experts point to her investments in AI, defense firms as potential conflicts of interest. Under federal law, members of Congress can trade in a variety of financial vehicles, including stocks and bonds, but they are subject to the 2012 STOCK Act — which prohibits them from using private information obtained through confidential congressional reports or committees for gain. While none of the investments she’s made since January 2025 appear to affect legislation that has directly come before either of her committees, experts say the potential for abuse is high when a sitting member of Congress makes votes on topics ranging from defense appropriations to health care and consumer regulations. One particular trade, Morrison’s equity investment of $15,001 to $50,000 in Austin, Texas-based Saronic Technologies — a company valued at $9 billion that’s developing an autonomous naval vessel — came just nine days after the U.S.-Israeli war on Iran. Prof. Painter said that trade was “shocking,” adding that “This is the kind of thing that can cause great public distrust in our government.”