Souder Denies Allegations

By Sammira Little

June 18, 2010 Updated Oct 22, 2008 at 10:50 PM EDT

FORT WAYNE, Ind. (AP) - Republican Congressman Mark Souder is
denying Democrat claims that he inappropriately sought a $1 million
federal grant for a project involving a company in which he owned
stock.

Souder bought stock in Warsaw-based Biomet in 2003. He later
secured the grant and said it included three Indiana orthopedic
companies, including Biomet.

Democratic Party spokeswoman Lauren Smith says it was
inappropriate because the value of the stock would likely go up if
the company did better.

Souder says the Democratic allegations are false, in part
because the money was originally intended for a "cluster" of
companies, not just one. Souder said Biomet wasn't chosen by Notre
Dame to participate.

Souder says he gained only about $20 on his $2,000 worth of
stock when he sold it last year when the company was acquired.

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