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Posted: 6/27/2002 4:37:56 AM EDT
[img]http://cagle.slate.msn.com/news/MarthaStewart/MarthaStewart/deering.gif[/img] Looks kinda like an AR15. Is that a Birdman Weapon Systems stock?
Link Posted: 6/27/2002 4:40:21 AM EDT
What was she supposed to do? It might be hard for anyone to just sit and watch your $$$$ go down the tubes.
Link Posted: 6/27/2002 4:42:56 AM EDT
Link Posted: 6/27/2002 5:02:20 AM EDT
The CEO of IMCLONE was a good friend of Martha's. He dumped his stock the day before the FDA announced the drug was not approved. The question in hand is, "Did Martha have inside information that caused her to sell before her stock bottomed?" If so, it is in violation of SEC codes pertaining to inside information. Personally, I wouldn't mind seeing her off the air...she is everywhere....GMA, Today show, seasonal specials, she's even on the Food Network, yeah that'll ruin my appetite in a hurry. Now she's all over the news...I can't get away from her.
Link Posted: 6/27/2002 5:12:02 AM EDT
Link Posted: 6/27/2002 5:21:04 AM EDT
A few more... [url]http://cagle.slate.msn.com/news/MarthaStewart/main.asp[/url]
Link Posted: 6/27/2002 5:23:36 AM EDT
Timing is the key. Legally, the CEO is not allowed to give information like that to stock holders, until after it is formally announced. SEC is looking into allegations of investment firm employees who handled Martha's account that the information was given to Martha. On a side note...WTF is going on with all these big companies? Doctoring the books to inflate thier egos and pocket books? What's the matter 28 million not enough for them? Gotta keep up w/ the Jonses and get that place in Barbados, Cancuun, and the French Riviera.
Link Posted: 6/27/2002 5:31:21 AM EDT
Originally Posted By Sweep: Not trying to be a smart ass here, but what happens if you're in that position and your friend tells you some inside information like that? Do you hold the stock and lose all your money? At least she waited for the FDA to not approve it. Not saying not guilty of insider trading, but how do they prove it?
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She ALLEGEDLY sold her IMCLONE stock before the FDA ruling was public. It saved her between $43,000 and $57,000. So far her company has lost appx $200 million in value.
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