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Battered Stewart stock a `buy'; She's unlikely to face stiffest penalties for trading; firm's finances are solid.(Martha Stewart Living Omnimedia)(Brief Article)
Crain's New York Business, June, 2002 by Fredrickson, Tom
Unless Martha Stewart turns out to be Ivan Boesky in drag, shares of Martha Stewart Living Omnimedia Inc. could be a ``buy''-eventually. Since congressional investigators revealed on June 6 that they were looking into her sales of the stock of drugmaker ImClone Systems Inc., shares of MSLO have plunged 19%, closing on Friday at $15.45.
Investigators are looking into whether an insider tip about regulators refusing to review an ImClone drug application prompted Ms. Stewart's decision to sell nearly $230,000 of ImClone shares in late December. Even if she were reacting to an inside tip-and even if that could be proved-Ms. Stewart is unlikely to be sent up the river, say legal experts. At worst, they say, she might be forced to disgorge her profits and paying...
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