Martha Stewart Insider Trading Scandal
Student’s Name
Institutional Affiliation
XXXXXX XXXXXXX XXXXXXX Trading Scandal
Introduction
Martha Stewart XX a popular XXXXXXXX, controversial business XXXXX XXX XXXXXX a XXXXXXX XXX fame as a writer, television XXXXXXXXXXX, and model. She XXX XXXXXX XXXX XXXXXXX, resulting from her XXXXXXXXXX XXXXXXX in XXXXXXX business ventures, from XXXXXXXXXX to broadcasting and even e-XXXXXXXX. Her XXXXXXX story XXXX her XXXXXX XXX first self-XXXX XXXXXX billionaire. XXXXXX’s success XXX XXXX XXXXXXXXXX, XXX XXXXX has XXXX XXXXXXX moments XXXX XXXXXXX her name (Hearly, XXXX). The XXXX popular XXXXXXX XXXXX XX the XXXXXX is the XXXXXXX-trading XXXXXXX that XXX XXXX her XXXXXXXXXXXXX XX an individual and her ventures. XXXXXX's habits XXX utterances have landed her in big XXXXXXX. XXX XXXXXXXXXXXXX XXXXX from calling the entire XXXXXXXXXX generation lazy, separating herself from her daughter, initiating XXXXX XXXX numerous people, and XXXX speaking XXX XXXXXX of XXXXXXX (Oppenheimer, XXXX).
XXX XXXXXXX Scandal
XXX XXXXXXX Trading XXXXXXX hit Martha XXXXXXX after XXX XXXXXXX a XXXX loss after selling XXXX XXXXXXXX shares one day before the company's XXXXX XXXXXX XXXX XXXXXX. XXXXXX XXX a tip XXXX XXX CEO XX the stock company that the XXXXXXX XXX about to dump its stocks. In USA, it is XXXXXXX XX use information XXXX XX XXX available in XXX XXXXXX XXXXXX to buy or XXXX shares for profits or evade XXXXXX (Stewart, XXXX). That is how XXX evaded XXXXXX a XXXX XXXX of XXXXXXXXXXXXX $50,XXX in 2001. Martha was XXXX XXX the XXXXX even though the charges XXXXXXX her were XXXXXXX after a XXXXX.
Even though XXX XXXXXXX XXXX was XXXXXX out, Martha was still XXXXX XXXXXX in four accounts. Her legal XXXXXXXX were XXXXX XX XXXXXXXXXXXXX agents on XXXXXXX accounts XXX also XXXXXXXXXXX XX XXXXXXX. XXX XXXXX sentenced Martha XX five months in prison, XXX XXXXX of XXXXXXXXX, and five XXXXXX of XXXXX XXXXXX. XXXX XXXXX her XXXXXXX, XXXXXX involved herself in XXXXXXX ventures XXXX "The Apprentice: XXXXXX XXXXXXX." XXXXXX also XXX XXXXXX from acting by her director for five years. Regardless, XXXXXX XXXXX owns XXXX 50% of XXX Martha Stewart Living XXXXXXXXX and 90% XX XXX voting stock. Regardless of all XXXXX scandals XXXX taint her XXXX, she still XXXXXXX with XXXX XXXXXXXXX and XXXXXXXX XX her XXXXXXX. (Rosoff &XXX; XXXXXXX, 2020).
Developments XX the Scandal
Martha's XXXXXXX was about her XXXXXXXXXXX XXXX XXXXXXX XXXXXX, a biopharmaceutical company where she owned XXXXXX. On December XXXX, XXX sold 4,000 shares just a day XXXXXX the XXXXXX XXXXXX. It XXX still one XXX before XXX XXXX and XXXXX XXXXXXXXXXXXXX refused to review the system for ImClone XXX XXXXXXX, XXX XXXXXX drug. XXXXXXX XXXXX companies XXXX XXXXXX their XXXXXX and XXXXXXX an XXXXX of being XXX coincidental XX be ignored (XXXXX, XXXX). The XXX of Erbitux was XXXXX to be a XXXXX XXXXXX XX Stewart. XX XXXXXXXXXX XXX broker to transfer $X.X million XX XXX daughter's XXXXXXX and XXXXXXXXX XXXX $X.XXXXXX XX XXXXXX XX ImClone be sold.
XXX was XXXX XXXXXXXX on accounts XX XXXXXXX XXXXXXX, bank fraud, and XXXXXXXXXXX of justice. He XXXXXXX XXXXXXXX for nine XXXXXX, XXXXX XXXXX he accepted his charges. The XXXXX XXXXXXXXX XXX XX seven XXXXX in prison, even though XXXXX he was released XXXXX X years XXX still XXXXXX his XXXXXXXXXXX in XXX crime (Prud'homme, 2020). Even in this XXXX, XXXXXX XXXXXX having engaged XXXXXXX in improper XXXXXXX activities. XXXXXXX all XXXXX charges XXX XXXX XXXXXXXXXX, Martha XXXXXXXXX to be a successful public XXXXXX that XX XXXXX and XXXXXX XX XXXX XXXXXXXXXXX.
XXXXXXX of XXX XXXXX XXXXXXX
There XXX XXXX relevant events XXX XXXXX that XXX to the suspicion, conviction, XXX XXXXXXXXXX XX XXXXXX XXXXXXXXX her allies in the insider XXXXXXX XXXXXXX. XXX these XXXXXX were used XXXXXXX her in the XXXXX XX law, where she XXXXXXXX XXXXXXX against the XXXXXXX XXXXXXX XXXXXXX her. It XX XXXXXX for XXXXX insider trading XX happen in XXXX companies. The XXXXXXX XXXX comes XXXXX one gets a tip XX information that XXXXX XXXX XXXXX XXXXXX a major dump of shares happens. That is XXX XXXX that XXXX XX XXXXXX, and it XX illegal (XXXXXX &XXX; XXXXXXX, 2020). XXXXXX XXXXXX on stock XXXXXXX based on XXXXXXXXXXX that XX XXX XXXXXXXXX to XXX XXXXXX is a XXXXXXXX XXXX for XXX to XXXXXXXX.
In XXXX XXXXXXXXX, Sam, the CEO of ImClone, tipped Stewart some information upon XXXXX XXX acted to XXXXX a XXXX loss XXXX the coming XXXXXXX XX shares. XXX was also in XXXXXXX after ordering XXXX shares XXXXX $5 XXXXXXX from his XXXX be XXXX. XXXX was XXXX one day before XXX XXX XXXXXXXXXXXX of XXX XXXXXXX of XXXXXX XXX made. XX failed to XXXXXX with the XXXXXXXX XXXXXXXX Commission (XXX). That made it XXXXXXXXX XX convict Stewart XXXXXXX XXX timely XXXX her shares before the loss. XXXXXXX, XXX stock regulators were able to prove XXXX Martha XXXXX XX XXX-public information to avoid XXX XXXX XXXX. Martha XXXXXXX XXXX XXX had XXXXXXXXXX her broker XX XXXX XXX her shares once XXXX XXXXXXX below a specific XXXXX in her XXXXXXX. The XXXX XXX to hold Martha XXXXXXXXXXX for her XXXXXXX was XX investigate all the XXXX XXX told during her XXXXXXXXXXXXXX.
Even though XXXXXX was not found guilty for inside XXXXXXX, there XXXX XXXXX XXXXX strong XXXXX against her. That XX how her XXXXXXXXXXX managed to give her 5 XXXXXX XXXXXX XXXXXXXX on accounts XX obstruction of XXXXXXX and XXXXXXXXXX. That XXXX XXXXXXXX after XXX XXXXXXX trading charges were XXXXXXX, XXX the fraud cases were XXXXXXXXX. Martha XXXXX had XXXXXXX case with the SEC where she XXX XXXXX XXXX XXXXX the amount of XXXXX she avoided XX go XX a XXXX. XXX XXXXX XXXXX of her misconduct XXX XXX fines XXXXXXXX to a whopping $195,XXX. XXXXXX was XXXX XXXXXXXX XX step down as XXX CEO of her own company XXX five years. She XXXXXX XX an example XX all prominent business persons and officials in confirming that XXXX are XXX immune to XXXXXXX.
XXXXXXXXX
XXX XXXXXX XXXXXXX XXXX can XX traced according to the timelines as XXX XXXXXX occurred. On XXXXXXXX 26th, 2001, XXXXXXX founder Sam Waksal XXXXXX that FDA XXXXX XXXXXXX XX approve Erbitux, XXX XXXXXX XXXX. He proceeds to tell her daughter to sell her ImClone XXXXXX, and he XXXXX XX sell XXX shares too. XX December 27th, XXXX, XXXXXX sold X,XXX XX her XXXXXX, and XXXXX prosecutors prove that her XXXXXX XXXXXXXX XXXX a tip from Waksal. FDA XXXXX XXX XXXXXXXX public, and XXXXXXX shares XXXX XX 18%. XX January 2nd, XXXX, Stewart’s XXXXXX XXXXX XXXXXXXXXXXXX that he was XXXXXXXXXX XX sell XXX XXXXXX XX XXXX XXXXXXX below $60 XXX XXXXX. XXXXXX XX XXXXXXXX XX XXXX XXXX, XXXX, for XXXXXXX trading (Shein, XXXX). XX June 4th 2003, XXXXXXX and Bacanovic XXX indicated in nine XXXXXXX accounts. XXXXXXX resigns XXXX her XXXX of XXX in her XXXXXXX. XXX CEO XXX sentenced XX seven XXXXX in XXXXXX on XXXX 10th, XXXX. On XXXXXXX XXXX, 2004, XXX prosecutor XXXXXXX that XXXXXXX XXXX her XXXXX XXXXXXXXX a secret XXX XXX tried to XXXXX XX the truth XXXX lies. Faneuil XXXXXXXXX XXXX XXXXXXXXX XXXXXXXXXX XXX to XXXXXX Stewart that XXXXXX XXX selling XXXXXX and XXXXXXXX XX XXX XXX. XXX Armstrong XXXXXXXXX XXXX Stewart XXXXXXXXXX her to alter XXX XXX XX a call that Bacanovic made XX Stewart. On XXXXXXXX XXXX, XXX judge throws XXXX XXX XXXXXXXXXX fraud XXXXXXX against XXXXXXX. XXXXXX is convicted XX all charges on XXXXX XXX, whereas Bacanovic is XXXX charred for XXXXXXXXXX a XXXXXXXX. She resigns XX the CEO of her own company on March XXXX. XX June XXXX, Martha and Bacanovic are XXXXXXXXX to XXXX XXXXXX in prison and five XXXXXX for XXX XXXX about a stock XXXX (Hearly, XXXX). XX March XXX, 2005, Martha begins her XXXX XXXXXXXXX.
Conclusion
The XXXX XXXXXXXXXXXXX case XXXX ever XXX Martha XXX XXX insider trading XXXX. XXX XXXX her shares a day before XXX market XXXXXXXXX. XXXX XXXXXX XXXXX charges XXXX dropped, XXX XXX XXXXX XXXXX XXXXXX XX XXXXX to XXXXXXXXXXXXX agencies XXX XXXXXXXXXXX XXXXXXX. XXXXXXX conspired with her XXXXXX to make false statements in the ImClone XXXXXXX XXXXXXX XXXXXXXXXXXXX. XXXXXXX XXX XXXXX XXXXXX XX obstructing XXXXXXX XX XXXXXXXXX misleading XXXXXXXXXXX XXX XXXXXXXXXX XX tamper with XXXXXXXXX communication messages XXXX XXXX her XXXXXX. She XXXX XXXX XX investigative agencies that she XXX an agreement with her XXXXXX XX sell her XXXXXX whenever XXXX XXXXXXX XXXXX $60. XXXXX mistakes XXXXXXXXXXXX XXXXXX her XXX XXXXX of probation, XXXX-month XXXXX XXXXXX, and five XXXXXX of XXXXXX XXXXXXXXX.
References
Healy, G. (2016). Go directly to XXXX: XXX XXXXXXXXXXXX
ion XX almost everything. , : Cato XXXXXXXXX.
XXXXXXXXXXX, X. (XXXX). Martha Stewart - Just desserts: The unauthorized XXXXXXXXX. , : Ami Books Incorporated.
XXXX'homme, A. (2020). XXX cell game: XXX Waksal's XXXX XXXXX XXX XXXXX XXXXXXXX--XXX the fate XX XXXXXXX's cancer drug. , : XXXXXX Collins.
XXXXXX, S. M., &XXX; Tillman, X. (2017). Profit without honor: White-XXXXXX crime and XXX XXXXXXX XX XXXXXXX. , : Prentice XXXX.
Shein, J. X. (2017). XXXXXXXXX XXXXXXXXXX XX Martha Stewart living XXXXXXXXX: Not. , :
XXXXXXX, X. B. (2019). XXXXXXX XXXX: XXX false statements XXX undermining XXXXXXX: XXXX XXXXXX XXXXXXX to XXXXXX Mado ff. , : Penguin.