Reuters reports that the Securities and Exchange Commission is looking into who knew what and when regarding Howard Stern’s deal with Sirius Satellite Radio.
The company saw its stock soar before Howard’s announcement. The SEC is looking for possible insider trading, according to the account.
Chaunce Hayden, who calls himself a celebrity journalist and is a frequent guest on Stern’s show, told the wire service he’s been told to appear before the SEC this week as part of the investigation. He made a prediction about Stern on cable television apparently two weeks before the move and said that’s what regulators want to question him about.
A Sirius spokesman told Reuters the company had no comment, but Patrick Reilly said, “We have no reason to believe this matter involves Sirius or any actions of its officers, directors or employees, and neither Sirius nor any of its officers, directors or employees have received a subpoena in this matter.”
SEC Probes Stern’s Deal With Sirius, Gossip Columnist Says
SEC Probes Stern's Deal With Sirius, Gossip Columnist Says
