Martha Stewart Case – used inside information to sell a stock investment to an unsuspecting public.pdf

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Department
Management (MGS)
Course
MGSC14H3
Professor
Peter P Constantinou
Semester
Summer

Description
Martha Stewart Case – used inside information to sell a stock investment to an unsuspecting public  ImClone Systems Inc = trying to get FDA approval to market Erbitux, an anti- colon cancer drug  Samuel Waksal, CEO of ImClone = warned that FDA was going to refuse to approve the drug  before the official announcement (that FDA was going to refuse to approve), Waksal told family members to sell ImClone stocks  Martha Stewart was probably given insider information by Waksal  sold her ImClone stocks before official announcement  gained $227, 824; avoided losing $45, 673 when the stock price dropped the next day  Ethical dilemma: Whether or not it is ethical for people to use insider information to make decisions regarding their own stock investments  Argu
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