More Questions for Martha Stewart
Congressional investigators reviewing documents concerning Martha Stewart’s controversial sale of ImClone stock have found no tangible record between the domestic diva and her embattled broker, Peter Bacanovic, of an arrangement for him to dump her shares when the stock fell below a certain price, reports Newsweek. Stewart, 60, is under the microscope by members of the House Energy and Commerce Committee, who are looking into whether she had inside information when she dumped nearly 4,000 shares of ImClone last December, a day before the stock plummeted on news that the FDA had rejected one of the company’s cancer drugs. She has been quoted as saying that she and Bacanovic had a verbal agreement to unload the stock should it slide below $60 per share. The Associated Press reports that the committee has obtained Stewart’s stock account records through her attorneys. “We’ve heard Miss Stewart’s side of the story, and now we want to hear Mr. Bacanovic’s,” committee spokesman Ken Johnson told the news service on Sunday. “If the stories are in conflict, then there’s the possibility we could question her further.” The AP could not immediately reach reps of either Stewart or Bacanovic for comment Sunday.