In June of 2003‚ Martha Stewart was indicted on several criminal and civil counts from the U.S. Securities and Exchange Commission (SEC) . Without consideration of the verdict‚ the question remains; Did Martha Stewart‚ as CEO‚ act responsibly? Even though she was found guilty on all four counts against her‚ she could still be considered to have acted ethically. To determine the responsibility and ethics of her actions‚ the specifics of the case will be applied to a process to determine both the utility
Premium Ethics Business ethics Corporation
1. What issues did Martha Stewart‚ Bacanovic‚ and Faneuil miss in making their decisions about selling the ImClone stock in their conduct following the sales? Apply the models and make a list of suggested questions they could have asked that might have affected their decisions. I do not feel any of them were thinking about any consequences! Why was this small amount of money so important to them‚ especially Ms. Stewart‚ who was a multi- billionaire at the time? It is clear that they weren’t
Premium Stock market Stock Share
2001 Martha Stewart was contacted with some information that was clearly not public knowledge at the time. Her broker‚ Peter Bacanovic‚ had attempted to contact Stewart to inform her that ImClone shares were going downward and the Waksals were selling all their shares. Under the Client Information Privacy Policy of Merrill Lynch it clearly states that they “do not release client information‚ except upon a client’s authorization”. Bacanovic had ignored the policy and had chosen to inform Stewart of
Premium Stock Stock market Martha Stewart
On December 27 ‚ 2001 Martha Stewart‚ America’s beloved housewife‚ sold her shares of ImClone after she received specific inside information regarding the status of the companies business. A series of events led to an investigation‚ interviews‚ indictments‚ a trial & sentencing of Martha Stewart to 5 months in a minimum security prison camp and then 5 months of home confinement. Merril Lynch tipped off the Securities & Exchange commission to report the possibility of insider trading on
Premium Martha Stewart Stock market Stock
the FDA. She had her broker sell her 4‚000 shares valuing $230‚ before the news hit and later found guilty of insider trading. According to the Daniel Fund Ethics Initiative at the University of New Mexico‚ the charges of securities fraud against Stewart were dropped but she served five months in prison and five months on house arrest for four counts of obstruction of justice and lying to investigators (Brunet‚
Premium Crime Police Criminology
INTRODUCTION Martha Stewart a known celebrity and founder of Martha Stewart Living Omnimedia (a business which is built on showing others how to cost effectively manage and decorate the home)‚ who was given a tip by Douglas Fanueil and Mr. Bacanovic‚ employees of the Merrill Lynch brokerage company. This tip which broke the confidentiality policy of the brokerage company led to the subsequent sale of Martha’s shares in the ImClone company during the latter company’s blackout period with the effects
Premium Martha Stewart Stock
crime of insider trading‚ particularly the Martha Stewart insider trading case. I will also refer to other trading cases such as one that happened recently against Galleon Group‚ an invest firm in New York‚ which was charged for insider trading. In this paper‚ I will talk about how the media‚ particularly newspapers‚ depicts crimes associated with popular celebrities and compare it to how it depicts the same crime with a regular person. The Martha Stewart insider trading case was a popular news story
Premium Martha Stewart Mass media
Case Study: The Trial of Martha Stewart 1. I’m convinced that Martha Stewart did commit the crime of insider trading‚ on December 27‚ 2001. Looking at the events leading to her decision to liquidate her shares in ImClone‚ it is evident that she was in possession of material information that was not available to the public yet. The fact that her Financial Advisor‚ Mr. Bacanovic had instructed Faneuil to call Martha Stewart and let her know of the selling frenzy that was going on with the Waksal’s
Premium Stock market Stock Martha Stewart
that can cause lawful consequences. For example‚ in December of 2001‚ Martha Stewart sold over 3‚000 shares of Imclone System Stocks to save her $45‚000 on her ImClone stocks. She was convicted of conspiracy‚ false statement‚ and prejury changes. For this crime she was only sentenced to 10 months imprisonment‚ had to pay fines and penalties that exceeded $250‚000‚ and was no longer allowed to be President of Martha Stewart Living Omni-media. No lets take a look at the penalties for committing
Premium Crime Criminology Criminal law
Martha Stewart Weddings is a bridal magazine that assists brides‚ wedding planners‚ and others who are involved in planning a wedding in adding a unique signature style to a special wedding’s details. Every vibrant issue features articles‚ containing original advice about everything necessary to plan your special day with ease! The Queen of keeping a lovely home and celebrating in style‚ Martha Stewart‚ offers excellent ideas for even the smallest detail of your wedding day. Take advantage of
Premium Wedding Marriage White wedding