From the Washington Post
Frist subpoenaed in probe of stock sales: WPost
Thu Oct 13,12:56 AM ET
WASHINGTON (Reuters) - Senate Majority Leader Bill Frist has been subpoenaed to
turn over personal records in an investigation into possible insider trading,
The Washington Post reported on Thursday.
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The Securities and Exchange Commission issued the subpoena within the past two
weeks, the newspaper reported, citing sources familiar with the probe.
A spokesman for Frist, a Tennessee Republican, was not immediately available for
comment.
Frist aides previously said he had been contacted by regulators but did not mention
that he had received a formal request for documents, The Washington Post said.
Authorities are looking into Frist's recent sale of shares of hospital operator
HCA Inc., co-founded by Frist's father and brother. The sales took place just
days before HCA's stock price fell on a disappointing July 13 profit outlook.
The newspaper, citing sources who spoke on condition of anonymity, said Frist
was expected to testify under oath about what he knew about HCA's financial standing
in the weeks before the stock sales.
Frist, viewed widely as a potential 2008 presidential candidate, said last month
he had no inside information about the coming profit forecast when he began taking
steps in April that led to the stock sale, which was completed on July 8.