Martha Stewart, founder and CEO of her own multimillion dollar corporation, Martha Stewart Living Omni media was indicted, on charges of lying to investigators, securities manipulation, and obstruction of justice. She was sentenced to five months in a West Virginia state woman’s prison and 5 months on house arrest. Originally it was said that Ms. Stewart was indicted on charges of insider trading, however obviously those charges could not be proven. After a year and a half investigation, she was indicted on totally different charges. Ms. Stewart’s stock broker at the time Mr. Bacanovic, who was employed at Merrill Lynch Investment Company, was also indicted on the same charges. Mr. Bacanovic had his assistant call and give Ms. …show more content…
That is said to be insider trading, having received any type of information that was not made available to the public. I don’t understand why the stock broker, who worked for her and got a commission for what he does. His job was to ensure that her portfolio stayed profitably healthy and looking good. But the Securities and Exchange Commission had a different view about the situation and started an investigation of these particular activities. I don’t know if Ms. Stewart really thought she was doing anything wrong at the time but her values seemed to be that of what ever can protect her and her money by any means necessary that’s what she would do. It would seem money was in her top three of things she valued. However I don’t know how many people who found out that the President of a company that they owned stock in was selling his stock and not try to sell theirs also, regardless of how they found out. The President of Imclone had his daughter start selling off stock, and that raised a red flag. As the investigation proceeded it was inevitable that they would get to Ms. Stewart, but she was forewarned by her stock broker once again.
When Ms. Stewart found out about the investigation, her first instinct was to lie and try to cover up the fact that her broker gave her before hand knowledge about the soon to be falling Imclone stocks. I believe this case and investigation was tried out in the media
In this case, there are several conspirators who is involved in the fraud receiving punishment from either SEC or federal government. Robert Levin, the AMRE executive and major stockholder, and Dennie D.Brown, the company’s chief accounting officer, were subject to the punishment in the form of a huge amount of fine by the SEC and the federal government. This punishment came from reasons. After AMRE going public, the company have the obligation to publish its financial reports but its performance did not meet expectation. The investigation by SEC shows that Robert took the first step of this scam, fearing the sharp drop of AMRE’s stock price because of the poor performance of company. He abetted Brown, to practice three main schemes to present a false appearance of profitable and pleasant financial reports. Firstly, they instructed Walter W.Richardson, the company’s vice president of data processing, to enter fictitious unset leads in the lead bank and they originally deferred the advertising cost mutiplying “cost per lead” and “unset leads” amount, so that they deferred a portion of its advertising costs in an asset account. The capitalizing of advertising expenses allowed them to inflate the net income for the first quarter of fiscal 1988. Secondly, at the end of the third and fourth quarters of fiscal 1988, they added fictitious inventory to AMRE’s ending inventory records, and prepared bogus inventory count sheets for the auditors. Thirdly, they overstated the percentage
"If the Freedom Democratic Party is not seated now, I question American. Is this America, the land of the free and the home of the brave, where we have to sleep with our telephones off of the hook because of our lives be threatened daily, because we want to live as decent human beings in America?" Fannie Lou Hammer before the Democratic National Convention, 1964. Fannie Lou Hamer is best known for her involvement in the Student Nonviolent Coordination Committee (SNCC). The SNCC was at the head of the American voter registration drives of the 1960's. Hamer was a spokeswoman for the Mississippi Freedom Party (MFDP), which ultimately succeeded in electing many blacks to national office in the state of Mississippi.
In American history women were not given as many rights as men were. They were treated unfairly because of their gender. Throughout American history there were American women who took a stand and fought for women’s rights. Who were some American women right’s activists in American History that stood up for themselves and other women in throughout America?
SEC alleged that Mark Cuban violated misappropriate insider trading. To be qualified as misappropriate insider trading, an individual wrongfully obtains (misappropriates) inside information and trades on it for her or his personal benefit. In this case, Cuban actually traded his shares based on the material inside information he was told and saved him $750,000 in losses. Wrongful misappropriation means violation of a fiduciary duty.
Ella Fitzgerald To some, Ella Fitzgerald had a hard life from the moment she was born. To others, Ella had it made. Ella Fitzgerald was born April 25th 1917 in Virginia. Soon afterwards, her parents separated and Ella followed her mother to Yonkers, New York.
2. What were the specifi c eff ects of the Lasix, hot water, and alcohol on the couple’s blood pressure?
To understand the controversy that Billie presented one must first go to the root or source of such controversy and examine Billie's childhood. Billie was born Eleanora Harris to her father Clarence Holiday and mother Sadie Fagan who were just fifteen and thirteen years old, respectively, at the time (A 91). Born between 1912 and 1915 in Baltimore, the date unsure, Billie grew up without her father, who moved away early on in her life.
But even with the new marriage the marital and drug abuse continued. She was given a chance
When Elizabeth Blackwell graduated from Geneva Medical School in 1849, she became the first woman doctor in the United States. When she enrolled in the Medical Register of the United Kingdom, this made her Europe’s first modern woman doctor.
Insider trading – insider trading is the trading of a corporation’s stock or other securities by individuals with potential access to non-public information about the
In the novel by Ernest Hemingway, The Sun Also Rises, the character named Lady Brett Ashley is assimilated in the words of another character, Mike, with the Greek Goddess Circe. This Goddess is known in Homer's Odyssey for luring men with her irresistible charms and transforming them into animals. If this myth was to partake in reality, it would be without doubt represented in this novel. The majority of men in the story are tormented and subject to Brett's physical and sexual assets. The first characterization we get from her is one of a selfish, alcoholic, manipulative, sexual and evil woman who emasculates her male partners. However, this superficial characterization would ignore the principle
The author states Ms. Stewart sold her holdings in ImClone shares after learning Mr. Waksal was selling his ImClone shares. Ms. Stewart told Mr. Faneuil to sell her
Ivan Boesky at an audience of students at the University of California, Berkeley once stated, “Greed is all right, by the way. I think greed is healthy. You can be greedy and still feel good about yourself (Homans, 2012, p.1)(Kay, 2003, p.1).” Greed was what lead Boesky to Insider Trading and ultimately huge illegal profits; the scam he created was hidden in plain sight. Boesky wanted everyone to believe that he was doing the world a service but he was actually stealing (Homans, 2012, p.1). According to the Encyclopedia of White-Collar Crime, insider trading is a securities fraud that involves the purchase and sale of a security while the purchaser has trusted or privileged information about the security unannounced to the public. The
J. Thomas Talbot, a member of the board of directors of Fidelity National Financial, Inc., a Delaware corporation, traded on confidential information about the impending acquisition of LendingTree, Inc., which he received in his capacity as a Fidelity director. We must decide whether Talbot can be held liable under § 10(b) of the Securities Exchange Act of 1934 ("Exchange Act"), 15 U.S.C. § 78j(b), and Rule 10b-5, 17 C.F.R. § 240.10b-5, promulgated thereunder, for misappropriating information from Fidelity, in the absence of a fiduciary duty of confidentiality owed to LendingTree by Fidelity or Talbot when he executed the trades. We hold that Talbot can be held liable, under the circumstances here, but that a
When they feel like it is the end of the world, many people have trouble keeping a smile on their face. Other people can continue to shine no matter how bad they feel. Those people can leave a long lasting impact on the world. Princess Diana influenced millions of people from all over the world, and her legacy will remain forever.