The chief executive officer of Cory Booker's start-up business stepped down from his position last week amid questions of the Newark mayor's stake in the company.
Michele Clarke, a spokesperson from the company, declined to comment on the situation.
Booker faced questions over his personal finances and stake in the company last week on the eve of the New Jersey special Senate primary election, in which he won the Democratic nomination.
"I do believe we have met requirements for disclosure and transparency and we've gone above and beyond what most of the—all of the candidates in this race have submitted to in terms of disclosure," Booker recently told NBC News.
The Democratic Party's rising star has raised more than $1.7 million for Waywire, MSNBC recently reported.
The New York Times earlier this month released details about the company's round of layoffs and lack of website traffic. In addition, the New York Post revealed that Booker has continued to receive payments from his former law firm while serving as mayor.
Booker will run against Republican Steve Lonegan in October in an election to finish the term of the late N.J. Sen. Frank Lautenberg. Booker is the heavy frontrunner.