From MSN Money:
At her Web site, Stewart and her lawyers adamantly deny wrongdoing on her part….She claims she was simply responding to a call from her stockbroker when she sold shares of biotech company ImClone right before news on a setback in approval of a cancer drug sent the company’s shares reeling. “I am confident I will be exonerated of these baseless charges, but a trial unfortunately won’t take place for months,” Stewart writes.
At least one fund manager who holds shares in the company uses some compelling logic to reach the same conclusion. “Everyone knows (that) if she settles the stock goes up,” says the fund manager. “Since she owns 30 million shares, the amount she would make on the stock going up would be far more than any penalties she would have to pay. But this woman is not settling because she believes she did nothing wrong. I think this is going to blow up in the government’s face.”
Good thing the fund manager remained unnamed in the story–we wouldn’t want him investigated for speaking against the government.