The online magazine Slate has hired former stock analyst Henry Blodget to write about the trial of Martha Stewart, the magazine said Wednesday.
BLODGET, WHO SETTLED charges from regulators over his stock ratings during the Internet boom, will monitor the legal proceedings against Stewart, Slate’s editor Jacob Weisberg said.
Weisberg said Slate would be “very open” about disclosing any potential conflicts that Blodget might have in covering the case.
“I think he has something to add here. He has a very good understanding of the case,” Weisberg said. “I don’t think he’s someone who can’t be objective in covering this. Anyone who reads him will know his background.”
Stewart is facing charges of securities fraud and lying to investigators. On Tuesday, a federal judge refused two dismiss two of the charges against Stewart, two months ahead of the beginning of her trial. She has pleaded innocent.
As part of a settlement with regulators, Blodget, a former analyst at Merrill Lynch, agreed to pay $4 million in fines and penalties and to be banned permanently from the securities industry.
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