Martha Stewart’s Broker Subpoenaed
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The House panel probing Martha Stewart’s sale of ImClone Systems Inc. stock has issued a subpoena for her broker’s home and cell phone records from last December.
The broker, Peter Bacanovic, was placed on leave last month by Merrill Lynch & Co.
The House Energy and Commerce Committee is investigating whether Stewart had inside information when she sold her ImClone shares a day before federal regulators said they would not review the company’s cancer drug Erbitux. Stewart repeatedly has said her sale was lawful and based on public information.
“We gave [Bacanovic] every opportunity to provide these records voluntarily, but we continue to get the runaround from his attorneys,” said Ken Johnson, spokesman for Committee Chairman W.J. “Billy” Tauzin (R-La).
Richard Strassberg, an attorney for Bacanovic, declined to comment.
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