Martha Stewart's Life And Accomplishments

Martha Stewart is a best-selling author of numerous books, an Emmy Award-winning television show host, entrepreneur and founder of Martha Stewart Living Omnimedia. After graduating from Barnard College with a degree in architectural history, Stewart began a career on Wall Street as a licensed securities broker from 1968 through 1973 by the National Securities Association1. After her career on Wall Street, she moved to Connecticut where she decided to develop and run her own catering business. By doing so she was able to illustrate her passion and talent for elegant recipes and ultimately was the inspiration as she released her first book “Entertaining,” a cookbook that was instantly a best seller. This publicity led to television appearances

Immediately, Stewart then directed Faneuil to sell all of her ImClone shares. Stewart owned 3,928 shares sold all of her shares at an average price of $58.43 with proceeds of $228,000 at exactly 1:52pm. Had Stewart sold at the close of December 31, 2001; she would have endured a loss of $45,673. None of the information that Faneuil, Bacanovic, or Stewart possessed was public knowledge at this point in time. Waksal acted as he was informed the FDA refused the drug. However, the public information was not released until a December 28, 2001 press conference. It was clear that Bacanovic breached his duty to keep clients transactions confidential. He signed four policies at Merrill Lynch on August 14, 2001 about their “private policy.” These policies were also sent to Merrill Lynch customers including Martha

Stewart falsified that she had decided with Bacanovic that she would sell her shares if the market price dropped below $60 and that on December 27, 2001 at 1:30pm she sold the shares because of the market price drop. She also claimed that she did not recall speaking with Faneuil on December 27 and that she discussed the MSLO stock and Kmart with Bacanovic. Stewart falsely stated she sold her shares because she did not want to be bothered on vacation and that she did not know if there was a phone message from Bacanovic on December 27. Lastly in Count Three, she falsified that they discussed these matters in a public arena on December 28 and since that day Bacanovic never told Stewart that her account had been questioned by the