Panel Findings on Stewart to Be Disclosed

WASHINGTON — U.S. lawmakers will discuss today the findings of their investigation into whether Martha Stewart had inside information when she sold ImClone Systems Inc. shares.

The House Energy and Commerce Committee, chaired by Rep. W.J. “Billy” Tauzin (R-La.) started probing Stewart’s trade as part of its inquiry into ImClone and its cancer drug Erbitux.

Tauzin spokesman Ken Johnson said the congressman plans to announce his next move in the probe, which could include subpoenaing Stewart, issuing a report on evidence uncovered or asking the Justice Department to file charges.

Stewart, the TV celebrity who heads a publishing and merchandising company, sold nearly 4,000 ImClone shares Dec. 27, a day before the biotech company disclosed U.S. regulators had refused to review its Erbitux application. That setback shocked investors and sent ImClone shares tumbling.

Stewart repeatedly has denied wrongdoing. She has said she sold the shares because she and her broker had a previous agreement to unload them if the price fell below $60 a share.

Shares of Martha Stewart Living Omnimedia, have fallen sharply since news of her ImClone sale became public in June. The stock rose 11 cents Monday to $7.75 on the New York Stock Exchange.