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CNN Live Today
Martha Stewart's Co-Defendant Not to Testify
Aired February 24, 2004 - 11:35 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.
DARYN KAGAN,ANCHOR: A decision on whether to drop some of the charges against Martha Stewart could come today. And we've learned that Stewart's co-defendant has decided not to testify in his own defense.
Our Mary Snow is covering the case. She joins us from New York City.
Good morning.
MARY SNOW, CNN CORRESPONDENT: Hi there, Daryn.
And you know, the decision by the judge on whether or not to drop some of those charges is being closely watched by Martha Stewart's defense team in their decision on whether or not Martha Stewart will take the stand or not. There's been no decision announced on Martha Stewart.
However, the defense team for Peter Bacanovic, her co-defendant, came out today, saying that Peter Bacanovic will not testify on his behalf, saying, in their words, they do not believe that the government made a strong enough case.
So the Bacanovic team is beginning, really winding down its case. It expects a couple of more witnesses. And then it will be up to Martha Stewart's side to present its case.
In court today, the judge did say that she was reserving judgment this morning on the ruling on those motions. And it's really unclear at what point she will come out with the ruling.
Stewart's attorneys, for instance, asked her to drop all the charges against Stewart.
Today, Stewart's business manager, Heidi Deluca, has been on the stand, yesterday and today. She told the court that she recalled a conversation with Peter Bacanovic in November 2001 in which he indicated that he felt shares of ImClone, in his words, were dogged, and that he had a desire to set a floor price on the stock at around $60 or $61.
And that was about a month before Stewart sold that ImClone stock. And that agreement has really been the basis for Stewart's and Bacanovic's reasoning for selling the stock, a big part of this case.
And in this case, there's been a number of people who have shown up. Yesterday, some star power, Bill Cosby came to court. He was there for a little more than an hour, sitting behind Stewart in the courtroom, sitting with her family, saying he came to support a friend and that the two have been friends for about nine years.
Some other celebrities that have shown up here, Rosie O'Donnell a couple of weeks ago. So cast of characters in the courtroom -- Daryn.
KAGAN: All right, Mary Snow. Good job fighting those sirens, by the way. Appreciate it. Thank you.
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 February 24, 2004 - 11:35 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
DARYN KAGAN,ANCHOR: A decision on whether to drop some of the charges against Martha Stewart could come today. And we've learned that Stewart's co-defendant has decided not to testify in his own defense.
Our Mary Snow is covering the case. She joins us from New York City.
Good morning.
MARY SNOW, CNN CORRESPONDENT: Hi there, Daryn.
And you know, the decision by the judge on whether or not to drop some of those charges is being closely watched by Martha Stewart's defense team in their decision on whether or not Martha Stewart will take the stand or not. There's been no decision announced on Martha Stewart.
However, the defense team for Peter Bacanovic, her co-defendant, came out today, saying that Peter Bacanovic will not testify on his behalf, saying, in their words, they do not believe that the government made a strong enough case.
So the Bacanovic team is beginning, really winding down its case. It expects a couple of more witnesses. And then it will be up to Martha Stewart's side to present its case.
In court today, the judge did say that she was reserving judgment this morning on the ruling on those motions. And it's really unclear at what point she will come out with the ruling.
Stewart's attorneys, for instance, asked her to drop all the charges against Stewart.
Today, Stewart's business manager, Heidi Deluca, has been on the stand, yesterday and today. She told the court that she recalled a conversation with Peter Bacanovic in November 2001 in which he indicated that he felt shares of ImClone, in his words, were dogged, and that he had a desire to set a floor price on the stock at around $60 or $61.
And that was about a month before Stewart sold that ImClone stock. And that agreement has really been the basis for Stewart's and Bacanovic's reasoning for selling the stock, a big part of this case.
And in this case, there's been a number of people who have shown up. Yesterday, some star power, Bill Cosby came to court. He was there for a little more than an hour, sitting behind Stewart in the courtroom, sitting with her family, saying he came to support a friend and that the two have been friends for about nine years.
Some other celebrities that have shown up here, Rosie O'Donnell a couple of weeks ago. So cast of characters in the courtroom -- Daryn.
KAGAN: All right, Mary Snow. Good job fighting those sirens, by the way. Appreciate it. Thank you.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
