The Martha Stewart Insider Trading Case. Fallen Leadership. In this presentation:. the charges & background Stewart’s & public reaction the cost of scandal what would you do?. The charges.
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Insider Trading Case
In this presentation:
“Stewart holds a Series 7 license. As a licensed stockbroker, she knows her actions may have well been illegal. She's not just some innocent who made a mistake or wanted to save her investment.”
“First, before you rush to defend the sainted Martha, you should read the two bios on her, Just Deserts, by Jerry Oppenheimer and Martha, Inc. by Christopher Byron. In those books, you will get a portrait of a woman who has pretty much terrorized and victimized everyone she's come across, including her ex-husband. More importantly, the portrait of someone willing to cut corners to make a buck comes through clearly. Questions about her ethics didn't start in 2001, but dogged her through her career as both stockbroker and caterer. There are ample stories about her cutting corners and cheating or misleading partners going back to the 1970's. “
“Instead of trying to gain sympathy, she's tried to mislead Congress, bully the prosecutors into dropping the charges, and basically shove this aside like it was trivial, while investors in MSO took it in the neck. They had invested in the company because of her and they were now losing their investment because of her months of silence. “
“Stewart would have clearly been better off coming to a deal early on. Now, the SDNY is loathe to deal with someone they clearly feel is both dishonest and arrogant. “
“While people would like to say "it's because she's a powerful woman" or "she gave money to the Democrats," it's because she's a hateful person who has collected enemies over the years. “
An Open Letter From Martha StewartTo My Friends and Loyal Supporters,After more than a year, the government has decided to bring charges against me for matters that are personal and entirely unrelated to the business of Martha Stewart Living Omnimedia. I want you to know that I am innocent - and that I will fight to clear my name. I simply returned a call from my stockbroker. Based in large part on prior discussions with my broker about price, I authorized a sale of my remaining shares in a biotech company called ImClone. I later denied any wrongdoing in public statements and in voluntary interviews with prosecutors. The government's attempt to criminalize these actions makes no sense to me.
I am confident I will be exonerated of these baseless charges, but a trial unfortunately won't take place for months. I want to thank you for your extraordinary support during the past year - I appreciate it more than you will ever know.
For more information, please visit the special website I have established for you at www.marthatalks.com. I will do my best to post current information about the case, and you will be able to contact me there at firstname.lastname@example.org. I look forward to hearing from you.
Never say die!
The indictment does NOT allege that Martha Stewart was provided inside information by Sam Waksal about ImClone’s application for its cancer drug Erbitux – or about anything else.
of the Scandal
Martha Stewart Living Omnimedia…