Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: Softechie who wrote (83779)	6/24/2002 12:29:51 AM
From: puborectalis	Respond to of 99280

Fess up Martha..............".But Merrill officials now have doubts that a stop-loss order ever existed, based on the information provided by Mr. Faneuil, who executed the trade for Mr. Bacanovic as his sales assistant. Mr. Faneuil, who has been at the firm only 12 months, has told Merrill officials he was unaware of any agreement when he placed the order to sell Ms. Stewart's stock, these people say. Merrill legal officials believe he would have known about the stop-loss order if one had existed, these people add. This information led Merrill to take action Friday, placing Mr. Bacanovic and Mr. Faneuil on paid administrative leave. The firm cited "factual issues regarding a client transaction" as the reason for the move, and declined to elaborate. Mr. Faneuil wasn't available to comment. His lawyer, Marc Powers, couldn't be reached to comment on his client's discussion with Merrill's legal department. In a statement made late last week, Mr. Powers said Mr. Faneuil "spoke with Merrill Lynch's attorneys ... and he plans to cooperate with Merrill's internal investigation and with the SEC and the U.S. attorney's office." Mr. Bacanovic couldn't be reached for comment, and his lawyer had no comment. A spokeswoman and an attorney for Ms. Stewart weren't available for comment. In a statement issued June 18 , Ms. Stewart said, "The sale was based on information that was available to the public that day. The stock price had dropped substantially, to below $60. Since the stock had fallen below $60, I sold my shares, as I had previously agreed to do with my broker."