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Martha Stewart Insider Trading. Alexandra Santo. Who is Martha Stewart?. Trusted Homemaker, Television Personality, Successful Author, Former CEO of MSO , and Convicted Felon. What happened?. 12/27/2001 Stewart sold 3,928 shares of ImClone stock 12/28/2001 FDA rejects ImClone’s

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Presentation Transcript
who is martha stewart
Who is Martha Stewart?

Trusted Homemaker,

Television Personality,

Successful Author,

Former CEO of MSO,

and

Convicted Felon

what happened
What happened?

12/27/2001

Stewart sold 3,928 shares of ImClone stock

12/28/2001

FDA rejects ImClone’s

anti-cancer drug

12/31/2001

ImClone stock drops 16%

Martha Stewart avoids loss of $45,673

Roughly .006% of her net worth

what happened1
What happened?

Samuel Waksal CEO of ImClone

Peter Bacanovic

Broker at Merrill Lynch

Aliza Waksal

Daughter of CEO

Informs Stewart about FDA drug rejection

martha s response
Martha’s Response

DENIAL!

6/7/2002- WSJ breaks story, Stewart creates distance

6/12/2002- Waksal arrested, denial, $60 stop-loss order

6/18/2002- Documents submitted to congressional investors

6/25/2002- CBS’s The Early Show, maintains innocence

7/25/2002- MSO suffers, Stewart asks for separation

10/3/2002- Resigns from Board of NYSE

martha s response1
Martha’s Response

6/4/2003- Indictment, Blame Shift, & Resignation

6/5/2003- USA Today full page ad, innocence

3/5/2004-

3/15/2004- Resigns from MSO Board as CCO

7/16/2004- Sentenced & FINALLY APOLOGIZES!

life after prison did prison change martha
Life after Prison... Did Prison Change Martha?

Paid restitution in civil suit

The Apprentice

Sirius Radio Program

Martha vs. Macy’s, settled

sources

Cheng, S. (2011). A Corporate Hero with Scandal: Lessons Learned from Martha Stewart’s Insider Trading Crisis. <i>International Journal of Humanities and Social Science,</i> <i>1</i>(15). Retrieved October 1, 2014, from http://www.ijhssnet.com/journals/

Martha Stewart. (2014.) The Biography.com website. Retrieved 11:12, Oct 27, 2014, from http://www.biography.com/people/martha-stewart-9542234

Leite, J. (2012, May 5). What Martha Stewart Did Wrong. Retrieved October 28, 2014, from http://coveringbusiness.com/2012/05/15/what-martha-stewart-did-wrong/

SEC Charges Martha Stewart, Broker Peter Bacanovic with Illegal Insider Trading. (2003, June 4). Retrieved October 28, 2014, from http://www.sec.gov/news/press/2003-69.htm

Martha Stewart Convicted on All Four Counts. (2004, March 8). Retrieved October 28, 2014, from http://www.foxnews.com/story/2004/03/08/martha-stewart-convicted-on-all-four-counts/

Reference for Business. (n.d.). Retrieved October 28, 2014, from http://www.referenceforbusiness.com/history/Lo-Me/Martha-Stewart-Living-Omnimedia-Inc.html

Rothman, M. (2014, October 27). Martha Stewart Gets Candid About Her Past Prison Time. Retrieved October 28, 2014, from http://abcnews.go.com/Entertainment/martha-stewart-candid-past-prison-time/story?id=26483590

ALAWADHI, N., & MUKHERJEER, A. (2014, January 2). Martha Stewart, Macy's settle lawsuit over Penney deal. Retrieved October 28, 2014, from http://www.reuters.com/article/2014/01/02/us-marthastewartlivingomnimedia-macys-idUSBREA010G520140102

Ackman, D. (2004, March 5). Martha Stewart Found Guilty. Retrieved October 28, 2014, from http://www.forbes.com/2004/03/05/cx_da_0305marthafinal.html

Coombs, T. (2011, January 6). Crisis Management and Communications - Institute for Public Relations. Retrieved October 28, 2014.

Sources