"United States v. Martha Stewart"
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This paper examines the legal issues raised in the indictment as they relate to Stewart. The paper then surveys current case law and the legal climate in the country to conclude that Stewart's conviction of the charges, should the case proceed to trial, is not at all ensured.
From the Paper:"On June 4, 2003, the United State Attorney's office filed a nine count indictment against Martha Stewart and Peter Bacanovic, Stewart's registered securities broker at Merrill Lynch. Five of the counts apply directly to Stewart. This paper reviews the legal issues raised in the indictment as they relate to Stewart and surveys current case law and the legal climate in the country to conclude that Stewart's conviction of the charges, should the case proceed to trial, is not at all ensured.
"Stewart sold all her shares of ImClone stock - 3,928 shares at a profit of approximately $228,000 - on December 27, 2001 after receiving a telephone message from Bacanovic that ImClone was about to start "trading downward" (Indictment, 7). In a conversation later that day with Douglas Faneuil, another Merrill Lynch broker, Faneuil told Stewart that Samuel Waksal, the president and CEO of ImClone, was selling all of his ImClone stock. Stewart then directed Faneuil to sell all of her ImClone stock as well.
"The first count of the indictment charges Stewart with conspiring with Bacanovic to obstruct justice, make false statements and commit perjury regarding her sale of ImClone stock (Indictment, 1). Bacanovic, prosecutors allege, based his message to Stewart that ImClone would begin trading downward on the "confidential, nonpublic information" he acquired that Waksal had ordered a sale of all of his own ImClone stock (Indictment, 6)."
Cite this Analytical Essay:
"United States v. Martha Stewart" (2003, December 01) Retrieved April 23, 2021, from https://www.academon.com/analytical-essay/united-states-v-martha-stewart-71065/
""United States v. Martha Stewart"" 01 December 2003. Web. 23 April. 2021. <https://www.academon.com/analytical-essay/united-states-v-martha-stewart-71065/>