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CNN Live At Daybreak

Martha's Mess

Aired May 21, 2003 - 06:19   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.


THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.


CAROL COSTELLO, CNN ANCHOR: It's time for some business buzz right now. Shareholders of Martha Stewart's company may get their day in court.
Let's go live to New York and Susan Levosivict.

Did you watch the big Martha movie last night?

SUSAN LISOVICZ, CNN FINANCIAL NEWS CORRESPONDENT: I sure didn't. I'm curious what the ratings are. But there was certainly enough hype about it, I feel like I watched it, you know, hearing Martha get upset about lima beans or merlot. Did you see it, Carol?

COSTELLO: No, but I heard about the big wine argument in the movie. She wanted merlot, not pinot noir!

LISOVICZ: Not bad. They should have called you instead of Cybill Shepherd.

Well, let's tell you about the legal setback, Carol, and that caused the stock actually to pull back yesterday, 85 cents, closing at $10.61.

A U.S. judge in Manhattan yesterday refused to dismiss a shareholders' lawsuit accusing her and her company, Martha Stewart Living Omnimedia, of harming investors by not disclosing she was under investigation for insider trading. The suit claims that when the information became public, it caused the stock to plummet. And, of course, the stock fell further yesterday on that news.

Meanwhile, "Newsweek" magazine is reporting that U.S. attorneys in Manhattan are still strongly considering indicting Martha Stewart on charges of insider trading and obstruction of justice in the ImClone case. They've been quiet for a long time now on that, and the triple dose of Martha news yesterday was, of course, the NBC movie, "Martha, Inc," which was so beautifully portrayed by Carol Costello just a moment ago and Cybill Shepherd on the small screen.

COSTELLO: You've got to believe there's going to be a sequel.

LISOVICZ: Well, there is plenty of news probably that will warrant it.

COSTELLO: Yes, definitely. Well, we'll keep our eye out for that and keep our audience ever informed. Susan Lisovicz, thank you. We'll get back to you later this hour.

LISOVICZ: My pleasure.

TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com.






Aired May 21, 2003 - 06:19   ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: It's time for some business buzz right now. Shareholders of Martha Stewart's company may get their day in court.
Let's go live to New York and Susan Levosivict.

Did you watch the big Martha movie last night?

SUSAN LISOVICZ, CNN FINANCIAL NEWS CORRESPONDENT: I sure didn't. I'm curious what the ratings are. But there was certainly enough hype about it, I feel like I watched it, you know, hearing Martha get upset about lima beans or merlot. Did you see it, Carol?

COSTELLO: No, but I heard about the big wine argument in the movie. She wanted merlot, not pinot noir!

LISOVICZ: Not bad. They should have called you instead of Cybill Shepherd.

Well, let's tell you about the legal setback, Carol, and that caused the stock actually to pull back yesterday, 85 cents, closing at $10.61.

A U.S. judge in Manhattan yesterday refused to dismiss a shareholders' lawsuit accusing her and her company, Martha Stewart Living Omnimedia, of harming investors by not disclosing she was under investigation for insider trading. The suit claims that when the information became public, it caused the stock to plummet. And, of course, the stock fell further yesterday on that news.

Meanwhile, "Newsweek" magazine is reporting that U.S. attorneys in Manhattan are still strongly considering indicting Martha Stewart on charges of insider trading and obstruction of justice in the ImClone case. They've been quiet for a long time now on that, and the triple dose of Martha news yesterday was, of course, the NBC movie, "Martha, Inc," which was so beautifully portrayed by Carol Costello just a moment ago and Cybill Shepherd on the small screen.

COSTELLO: You've got to believe there's going to be a sequel.

LISOVICZ: Well, there is plenty of news probably that will warrant it.

COSTELLO: Yes, definitely. Well, we'll keep our eye out for that and keep our audience ever informed. Susan Lisovicz, thank you. We'll get back to you later this hour.

LISOVICZ: My pleasure.

TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com.