Obstruction of justice guilty Prosecutors also brought a novel charge of securities fraud against Ms. Stewart, accusing her of trying to prop up the stock of her own company, Martha Stewart Living Omnimedia Inc.
View results Neither Stewart, 62, nor Bacanovic testified at the trial, which began Jan. Attorneys for Bacanovic called just a handful of witnesses while Morvillo called only one witness.
The conviction came exactly a week after U. The charge -- which the judge had called "novel" during the trial -- accused Stewart of using her own statements that she was innocent as a ploy to mislead investors in her company, Martha Stewart Living Omnimedia.
Martha Stewart has been found guilty on all four counts. ResearchEstimates stock rallied early Friday on hopes for a favorable verdict but then plunged The company said it would survive but analysts said the verdict was a serious threat.
Stewart quit as chairman and CEO of Martha Stewart Living after she was indicted last summer but stayed on as chief creative officer. Despite the intense publicity surrounding the trial -- the most closely watched of the recent corporate fraud cases -- the stock trade at its center involved a relatively small amount of money.
For more on the scandals, click here. Ironically, Erbitux, the ImClone drug at the heart of the scandal, was approved by regulators last month to treat certain forms of cancer. Prosecutors argued that Stewart sold her ImClone stock only after Bacanovic told his assistant to tip her off that ImClone founder Sam Waksal was trying to sell.The Martha Stewart Insider Trading Case In , Martha Stewart sold all of her shares of the biotech company, ImClone.
Just two days later, ImClone's stock fell 16% after it was publically announced that the FDA had not approved . Jun 05, · Martha Stewart was indicted yesterday on charges of conspiracy, obstruction of justice and securities fraud, all linked .
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What Martha Stewart Did Wrong.
By Covering Business May 15, By Julia Leite Columbia Journalism School ’ On December 27, , media mogul and celebrity homemaker Martha Stewart sold her stake in the biotech company ImClone.
Martha Stewart Gets Five Months, Plans Appeal July 16, Martha Stewart was sentenced by a federal judge to serve five months in prison, but the domestic diva will not have to attempt living graciously behind bars anytime soon.
Jul 17, · The stock in her company, Martha Stewart Living Omnimedia, which has sagged as her case has wound its way through the judicial system, soared 37 percent for the day.
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