business ethics assignment. on australian base plz do it on a "report essay" format with harvard referencing ,in 1500 words not less that .with a complete structure

Insider Trading Scandal
UNIVERSITY NAME
Insider Trading Scandal
Martha Stewart – The Guilty
Student Name
Introduction
Martha Stewart one of the most powerful business women in the early 2000s, was convicted
of insider trading in the stocks of pharmaceutical company. This conviction nearly
ought
about its downfall. This case revolves around various facts associated with the case, along
with the role that she played in the entire saga of insider trading. Her conviction saw the
and image of her company reaching lower levels, besides her company’s stocks taking
severe beating.
Along with Martha, her
oker (Peter Bacanovic) and the CEO of ImClone too were booked
for the insider trading offence and were handed over punishment (both monetary and jail
terms) based on the severity of their offence. This conviction serves as an eye opener for the
all corporate functioning in the USA. This ruling clearly shows that no one is over and above
the laws, and will definitely be booked for all the offences being conducted, howsoever big or
small they are.
Purpose of the report
This report aims at highlighting the key aspects of the case study which revolves around
Martha Stewart (owner of Living Omnimedia) who was convicted for indulging in insider
trading activities.
Key facts of the case:
 Martha Stewart – Owner and founder of Martha Stewart Living Omnimedia
 She was accused of indulging in the selling of approximately four thousand ImClone
shares after receiving an insider information
 Peter Bacanovic, the
oker who advised Martha about the event, possessed a
sensitive information about ImClone which when made public would have had a
significant impact on ImClone’s share
 Bacanovic’s assistant and Martha’s friend testified against Martha in this case, which
formed the base for the judgment
 The news pertaining to ImClone was the decision of FDA to reject the review
ImClone’s cancer drug was considered highly sensitive, as it could have had a severe
impact on the company’s stock
 Besides Martha, company’s CEO and his relatives too sold of their position in the
company
 SEC found Martha guilty of indulging in insider trading, and misleading the
investigating authorities
 She was sentenced to a prison sentence of five months, besides house a
est of five
months, and probation of two years. The ruling also prohibited from serving as a
director for the next five years
Role of Martha in insider trading
Martha Stewart – the founder of a multimedia empire, was found guilty of insider trading
after she sold 4,000 shares of ImClone Systems (a biopharmaceutical company) on December
27, 2001. This sale of shares of ImClone happened a day before the announcement of FDA or
the Food and Drug Administration who refused to review ImClone’s cancer drug. When this
decision of FDA was made public, it had huge impact on ImClone’s shares, which tumbled.
Securities and Exchange Commission or SEC filed securities fraud charges against Martha
and Peter Bacanovic (her former stock
oker). According to the investigation conducted by
various organizations, it was clear that Martha’s sold the shares of the...