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02/19/2005 05:55 PM ID: 46223 Permalink   

Feds Launch Insider-Trading Probe Regarding Howard Stern's Jump to Satellite Radio


2 weeks before Howard Stern joined Sirius Satellite Radio, the stock of the company rose 40%. While most knew Stern would sign on, the Securities and Exchange Commission is investigating to see if someone had advance notice to buy a lot of stocks.

The SEC is subpoenaing New York gossip journalist Chaunce Hayden in this probe. Hayden is a frequent guest on Stern's radio show. Siruis states that no one in its company is involved in this matter.

Stern and the SEC have yet to comment on this investigation.

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