This main product is a powerpoint presentation about Martha Stewart's trial which involved insider trading of ImClone stock but actually resulted in a conviction for obstruction of justice. She and her broker, being tried with her, had lied about what they had done regarding her stock. The testimony, the documentary evidence, the sentence--all of this is in the presentation plus full pictures of every facet.
There is also a 20 point multiple choice QUIZ with answer key plus a complete set of FLASHCARDS for reviewing the presentation. The Flashcards could also be used for testing purposes.
The author is a retired lawyer, instructor and textbook writer.
The following information is excerpted from the presentation:
Many people do not understand what Martha Stewart did as far as stock that landed her first in a criminal trial, then in prison and finally back home wearing an ankle bracelet at her New Bedford home, where she could only move within a prescribed perimeter, to finish out her prison sentence.
The specific laws that got Martha Stewart into trouble were insider trading laws regarding selling off stock shares. This is not what she was ultimately convicted of in court but she would not have been convicted of any crime if these insider trading laws did not exist.
It is illegal to deal in stock shares based on information not available to the rest of the public because your information is coming from those who have information from inside the company. This all got started because of her complicated relationship with immunologist Sam Waksal, who founded the biotech company, ImClone.
Immunologist Sam Waksal, PhD., founded the biotech company ImClone with his medical brother doctor Harlan. What they were counting on was immense profits from an anti cancer drug called Erbitux, which was ImClone’s promised wonder drug. However, Waksal got advance news that the FDA was going to deny approval of the drug and he let his close friends and family members know this so they could dump their stock.
Martha Stewart once dated Waksal and then he began dating her daughter instead, Alexis. (Waksal had a long history of dating women decades younger than himself.) It was this personal history and complicated relationship between the Stewarts and Sam Waksal that motivated Waksal to include Stewart in the close friends he cautioned about IMClone stock.