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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion. -- Ignore unavailable to you. Want to Upgrade?

To: bigbuk who wrote (128870)	2/23/2004 10:14:20 AM
From: Jim Bishop	Read Replies (1) \| Respond to of 150070

Martha Stewart not likely on stand ( United Press International ) NEW YORK, Feb 23, 2004 (United Press International via COMTEX) -- Martha Stewart's lawyers apparently don't favor putting their client on the witness stand in her New York trial over sale of her stock in ImClone. While the decision is not final, discussions among Stewart's lawyers and those of her co-defendant, stock broker Peter Bacanovic, seem to have settled on a minimalist defense, the Wall Street Journal reported Monday. The prosecution rested its case last week and Stewart's lawyers have asked the judge to throw out the case. But Judge Miriam Goldman Cedarbaum is unlikely to dismiss all of the charges. Stewart and Bacanovic are charged with obstruction of justice and conspiracy relating to the domestic entrepreneur's sale of 3,982 shares of ImClone Systems on Dec. 27, 2001. If Stewart and Bacanvic don't get on the stand, that means that as few as five or six witnesses may testify in their favor. The government says Stewart sold because her broker gave her a tip, via his assistant, that ImClone head Samuel Waksal was dumping his shares ahead of some bad news. The next day, ImClone disclosed that its key cancer drug had been rejected, sending the share price plunging. Waksal is serving a seven-year sentence for insider trading and other crimes. Stewart and Bacanovic say they had a pre-existing agreement to sell the stock when it fell below $60 a share. Copyright 2004 by United Press International. -0- SUBJECT CODE: 04016022 02001000 02006000 02008001 02009000 * end of story *