July 10, 2003 |
ImClone Systems Inc., the biotechnology company at the center of an insider-trading scandal involving Martha Stewart, said it is back in compliance with rules governing Nasdaq Stock Market listings. Nasdaq officials had considered removing the stock from the exchange after New York-based ImClone fell behind in filing financial reports with U.S. regulators. The company has caught up, and will regain its original stock symbol, IMCL.
January 7, 2003 |
A federal judge threatened to force ImClone Systems Inc. founder Samuel D. Waksal to go to trial unless he and his lawyers provide personal information necessary to sentence him on his securities fraud plea. "Absolutely nothing has been provided, not even a Social Security card," Manhattan U.S. District Judge William H. Pauley said.
October 21, 2003 |
Martha Stewart won a ruling barring prosecutors from using an e-mail she wrote to her lawyer explaining her trading as evidence at her trial. In a June 23, 2002, e-mail, Stewart, the former chief executive of Martha Stewart Living Omnimedia Inc., offered an account to her attorney of why she sold shares in ImClone Systems Inc. The e-mail was meant to assist her lawyer's investigation of the case, Stewart said. The next day, Stewart sent the same e-mail to her daughter Alexis.
September 9, 2003 |
A federal judge said Monday that she saw no indication of a breach of grand jury secrecy in the Martha Stewart case, rejecting defense demands that the government investigate the source of pre-indictment leaks. U.S. District Judge Miriam Goldman Cedarbaum said she found it difficult to understand how lawyers for Stewart believed their client might have been prejudiced if someone had leaked the fact that the indictment would not include a charge of insider trading.
July 31, 2002 |
Prosecutors are threatening former ImClone Systems Inc. Chief Executive Samuel D. Waksal with an unusually lengthy jail sentence amid a broad move by the government to crack down on corporate wrongdoing. Federal prosecutors are demanding that Waksal agree to seven to 10 years in prison as part of a plea bargain, according to a person familiar with the situation.
March 4, 2004 |
After 27 witnesses and 19 days of testimony and arguments, the jury is officially out on Martha Stewart. The panel -- as diverse as New York -- includes a Uganda-born pharmacist, a clergywoman, an Italian-language interpreter and a man whose regular poker game includes Wall Street pros: stockbrokers and "hedge fund people." The eight women and four men began deliberations Wednesday after U.S.
March 9, 2004 |
Martha Stewart met on Monday with federal probation officials who will recommend a sentence for her conviction on charges of lying about a stock sale, then emerged from the courthouse to thank her supporters. Stock in Stewart's namesake empire slid an additional 8%, and the board of Martha Stewart Living Omnimedia met to discuss life without her. The probation meeting is the first step toward sentencing.
March 5, 2004 |
The Martha Stewart jury indicated Thursday that it was focusing on whether her stockbroker committed perjury in an interview about a phone message he left for the lifestyles entrepreneur. Jurors completed their second day of deliberations without reaching a verdict against Stewart or broker Peter E. Bacanovic. They were to resume deliberating this morning.
July 4, 2003 |
ImClone Systems Inc., whose problems with the Food and Drug Administration led to a stock scandal, on Thursday posted a wider first-quarter loss on rising expenses. The New York-based cancer drug developer said its net loss was $34.8 million, or 47 cents a share, compared with a loss of $30.1 million, or 41 cents a share, a year earlier. Revenue rose 5.5% to $19.6 million from $18.6 million. Operating expenses in the quarter were $53.9 million, compared with $48.2 million last year.
January 27, 2003 |
Martha Stewart estimates that the federal investigation into her ImClone Systems stock trade has cost her about $400 million, according to an interview with the New Yorker magazine, which reaches newsstands today. Stewart told New Yorker writer Jeffrey Toobin that the losses have been mostly in the decline of her more than 30 million shares in her multimedia company, but also in legal fees and lost business opportunities.