Opening Statements Expected in Stewart Trial
Opening statements in the Martha Stewart trial could come this week. Lawyers for both sides expect the 12-person jury to be in place by today.
Stewart, 62, is accused of working with her co-defendant, stockbroker Peter Bacanovic, to cook up a phony explanation for why she sold ImClone Systems Inc. stock in December 2001, just before it plummeted on a negative regulatory report.
The government says the broker sent word to Stewart that ImClone founder Sam Waksal was trying to sell his shares. Stewart and Bacanovic counter that they had an understanding to sell the stock if it dropped to a pre-set level.
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