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Pleading Her Case: Martha Stewart Asks Judge to Dismiss Two Counts
Aired October 07, 2003 - 06:17 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: Time now, though, for a little "Business Buzz." Martha Stewart, who is facing five counts of criminal charges, is trying to have some of those charges dismissed.
Carrie Lee live from the Nasdaq market site.
Good morning.
CARRIE LEE, CNN FINANCIAL NEWS CORRESPONDENT: Good morning, Carol.
That's right, Martha Stewart asked a federal judge on Monday to dismiss charges of securities fraud and obstruction of justice. Now, according to Published Reports, Stewart's lawyers called the charges -- quote -- "unusual as they are unfair." These are two of the most serious of the five criminal charges that Stewart faces. She also faces charges of conspiracy and making false statements to investigators.
Now the indictment accuses her of selling shares of ImClone stock after getting a tip off from ImClone founder Sam Waksal that the stock was going to crash. The judge has until November 5 to respond to the filing. Stewart and her former Merrill Lynch stockbroker Peter Bacanovic are scheduled to go to trial January 12.
So this is the latest, Carol, but certainly not the end of the story. We'll be following this over the next couple of months.
COSTELLO: You're right about that.
Quick look at the futures.
LEE: Futures look a bit weak this morning. Looks like we could see some selling when that 9:30 opening bell rings. Not such a bad day yesterday, the Dow, the Nasdaq, the S&P 500 all gained fractionally, as you can see, holding pretty steady.
And we do have a couple of stocks to watch today. PepsiCo is reporting profits for the recent quarter this morning. And then after the closing bell, Alcoa, the aluminum giant, will be the first of the Dow 30 to report profits for the September quarter. So really gearing up this week for the profit reporting season -- Carol.
COSTELLO: All right, we'll catch you in the next half hour. Carrie Lee live from New York this morning.
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Two Counts>
Aired October 7, 2003 - 06:17 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: Time now, though, for a little "Business Buzz." Martha Stewart, who is facing five counts of criminal charges, is trying to have some of those charges dismissed.
Carrie Lee live from the Nasdaq market site.
Good morning.
CARRIE LEE, CNN FINANCIAL NEWS CORRESPONDENT: Good morning, Carol.
That's right, Martha Stewart asked a federal judge on Monday to dismiss charges of securities fraud and obstruction of justice. Now, according to Published Reports, Stewart's lawyers called the charges -- quote -- "unusual as they are unfair." These are two of the most serious of the five criminal charges that Stewart faces. She also faces charges of conspiracy and making false statements to investigators.
Now the indictment accuses her of selling shares of ImClone stock after getting a tip off from ImClone founder Sam Waksal that the stock was going to crash. The judge has until November 5 to respond to the filing. Stewart and her former Merrill Lynch stockbroker Peter Bacanovic are scheduled to go to trial January 12.
So this is the latest, Carol, but certainly not the end of the story. We'll be following this over the next couple of months.
COSTELLO: You're right about that.
Quick look at the futures.
LEE: Futures look a bit weak this morning. Looks like we could see some selling when that 9:30 opening bell rings. Not such a bad day yesterday, the Dow, the Nasdaq, the S&P 500 all gained fractionally, as you can see, holding pretty steady.
And we do have a couple of stocks to watch today. PepsiCo is reporting profits for the recent quarter this morning. And then after the closing bell, Alcoa, the aluminum giant, will be the first of the Dow 30 to report profits for the September quarter. So really gearing up this week for the profit reporting season -- Carol.
COSTELLO: All right, we'll catch you in the next half hour. Carrie Lee live from New York this morning.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Two Counts>
