NEW YORK - Martha Stewart waved to her supporters, strode into a Manhattan courthouse and repeated a plea of innocent at the formal start of her stock-trading trial Tuesday. The 62-year-old millionaire gracious-living guru stood in court and nodded at the first batch of jurors, who were interviewed one by one in a judge's private robing room.
CHICAGO Martha Stewart said Monday that her "personal nightmare has come to an end" after she settled civil insider-trading charges with the federal Securities and Exchange Commission, agreeing to $195,000 in fines, a five-year ban on serving as a director of a public company and limits on her executive position at the company she created. The SEC said Stewart and former broker Peter Bacanovic had accepted the terms to end the investigation tied to Stewart's December 2001 sale of stock in ImClone Systems just before an adverse regulatory decision on a key drug application. The SEC filed insider-trading charges in June 2003.
New York-based ImClone is most well-known as the company at the center of the insider trading allegations that ensnared decorating maven Martha Stewart.
..., the Diva of Domesticity was sued for insider trading by the Securities and Exchange Commission ...
* After the deputies get back from Louisiana and do something about the drugs sold openly in Cross Lanes, it would be nice for them to come to Chesapeake. We also have drugs sold openly up here. * To the person saying Martha Stewart served her time for insider trading, get your facts straight. She served time because she lied to the FBI. She was found guilty of that federal offense, not insider trading.
ImClone wants to expand Hs Branchburg campus by 55,000 square feet and build a new research and development facility there. ImClone's plans also call for relocating 150 research employees from a New York CHy facility to the Branchburg campus. ImClone was caught up in an insider-trading scandal in 2002 when individuals, including founder Samuel Waksal and entrepreneur Martha Stewart, sold shares of the company before it was publicly known that Erbitux, an experimental cancer treatment, had failed to win FDA approval. - shankar P.
NEW YORK - Martha Stewart was named as non-executive chairman of the lifestyle, media and merchandising company that she created Wednesday. Stewart rejoined the board of Martha Stewart Living Omnimedia Inc. in September at the end of a five-year ban on serving as a board member or as an executive of a public company as part of a settlement with federal regulators related to insider trading.
COSTLY TIP: Sam Waksal, the imprisoned ImClone Systems Inc. founder at the center of an insider-trading scandal that ensnared Martha Stewart, and his father, Jack, have agreed to pay $5 million to resolve civil charges in the case, regulators announced. Sam Waksal pleaded guilty in 2002 to securities fraud for tipping his daughter to dump ImClone stock just before the Food and Drug Administration denied the companys application to market the colon cancer drug Erbitux. He is serving a seven-year sentence. MAYTAG DROPPED: Best Buy Co., the nations top electronics retailer, will stop selling Maytag Corp.s line of washers, dryers and ranges because of growing demand for foreign brands. In the past two years Best Buy has boosted appliance sales by adding lines from LG Electronics Inc., Samsu...
NEW YORK -- ImClone Systems Inc. said Tuesday it may put itself up for sale as its only drug on the market, cancer treatment Erbitux, could face increasing competition this year with the expected approval of a medicine from biotech rival Amgen Inc. The biotech company, best known for an insider trading scandal that sent both former Chief Executive Sam Waksal and investor Martha Stewart to jail, is under pressure to develop its pipeline or continue to rely on a 39 percent cut of Erbitux sales from partner Bristol-Myers Squibb Co. for the majority of its revenue.
In light of the recent guilty verdicts brought against Martha Stewart, how about that guy at Harken Energy who was doing insider trading? Remember him? Steve Dunn
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