The Imclone Stock Scandal

Paper Summary:

This paper provides background information on the case against Martha Stewart and her involvement in the Imclone stock scandal. The paper looks at the arguments presented by the prosecution, the arguments presented by the defense, the verdict, and then offers some afterthoughts concerning the case.

From the Paper:

"Imclone is a biotech company that produces oncology pharmaceuticals. Imclone's most famous drug to date has been Erbitux, a compound that is used to fight certain types of cancers. On December 27th, 2001, Martha Stewart sold 3928 chares of Imclone. The problem the prosecution had with transaction was she sold the shares one day before the FDA announced it had rejected Imclone's application for approval of Erbitux. The days following this announcement sent Imclone's stock price way down. The fact is that even though Martha Stewart made a profit of $51,000 by selling her shares, she was never actually charged with insider trading."

More papers on The Imclone Stock Scandal:

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• Term Paper # 101267 : "Martha Stewart's Unethical Behavior"
• Analytical Essay # 136691 : "Martha Stewart: Dupe or Guilty?"

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