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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.

 
  Source: www.nypost.com  
    WebReporter: JFURY Show Calling Card      
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