Imclone's Busy Traders

Of the scandals hitting Wall Street, only ImClone's makes it into the society pages. But Martha Stewart is not the only stockholder of the biotech firm who is coming under suspicion for possible insider trading. Documents obtained by TIME show dumping of ImClone stocks by its executives that dwarfed Stewart's $228,000 sale. And their trading preceded Stewart's by weeks, starting just after Food and Drug Administration (FDA) officials met privately with an ImClone vice president last Dec. 4 and informally signaled there could be licensing problems for the company's cancer drug Erbitux. The FDA formally turned down a review of the...