Financial Services Industry
Industry: Email Alert RSS FeedMerrill worker's statements undermine Stewart's story.
Financial News, August, 2002
A Merrill Lynch trading assistant is further throwing into question Martha Stewart's explanation of her controversial sale of nearly 4,000 shares of ImClone Inc. stock in December.The assistant, Douglas Faneuil, has told Merrill Lynch executives and federal investigators that Stewart sold the shares after he advised her, at the behest of his boss, to take the action because Samuel Waksal, ImClone's then-chief executive, and members of his family also were selling their stock, according to people close to the matter.
Faneuil has been cooperating with federal officials investigating possible insider-trading charges against Stewart and members of the Waksal family who dumped shares of ImClone hours before the company announced news that sent shares into a...
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