GUIDANT EXECS IN HOT SEAT FOR UNTIMELY STOCK SALES

In the wake of Guidant's breakup with Johnson & Johnson, insiders who sold or disposed of more than $130 million in stock since Dec. 15 are being dogged by the old Watergate question: What did they know and when did they know it? It has gotten the attention of the Securities and Exchange Commission, which is investigating the company's product disclosures and individual stock trading. It's also the thrust of several shareholder lawsuits filed since July 1, and it's at the heart of New York Attorney General Eliot Spitzer's complaint lodged last week as the deal unraveled.
The Indianapolis Star