November 16, 1987 |
The Supreme Court, in a case with important but uncertain impact on press freedom and insider trading enforcement on Wall Street, upheld the criminal convictions today of a former newspaper reporter and two others who profited from stocks he was writing about. By an 8-0 vote, the court upheld federal mail and wire fraud convictions against former Wall Street Journal reporter R. Foster Winans and two co-defendants.
May 25, 1986 |
The Wall Street Journal's current advertising campaign hawks the newspaper as "The daily diary of the American Dream." The slogan might aptly describe the newspaper's history as well. Begun in 1882 as a service to rush bits of news called "flimsies" around Wall Street, Dow Jones & Co.
November 24, 1987 |
Maxus Energy, an oil and gas producer, Monday sued former top stock speculator Ivan F. Boesky and the investment banking firm Kidder, Peabody & Co., for alleged insider trading that boosted the price of a 1983 acquisition. The lawsuit alleges that Martin A. Siegel, who was a vice president of Kidder Peabody at the time, leaked non-public information to Boesky about the planned takeover of Natomas Co. by Maxus, then known as Diamond Shamrock.
March 12, 2004 |
Like Martha Stewart, I broke an essential clause of the social contract -- trust -- when I was caught by the Securities and Exchange Commission in a highly publicized insider trading scandal 20 years ago while a columnist for the Wall Street Journal. Like Martha, I betrayed my colleagues, ruined my reputation, left a good deal of wreckage in my wake and earned myself a stretch in federal prison. Like me, Martha faces a monumental task in trying to redeem herself.
January 29, 1985 |
Ex-stockbroker Peter N. Brant, the government's key witness in the stock-fraud trial of former Wall Street Journal reporter R. Foster Winans and two other men, testified Monday that he had no inkling that there was anything illegal about their scheme to profit from advance notice of Journal articles until it was uncovered.
September 8, 1988 |
Since Gary G. Lynch took over as director of enforcement at the Securities and Exchange Commission, the SEC has brought by far the biggest cases it has ever undertaken. Some say Lynch, now 38, simply happened to get the job at the right time. Securities lawyers said insider trading on Wall Street had become so flagrant and was being carried out by such big players that cases against individuals such as Dennis B. Levine and Ivan F. Boesky were inevitable.
January 22, 1987 |
A federal grand jury Wednesday returned a long-awaited indictment against former society lawyer David W. C. Clark, an alleged participant in an insider trading scheme involving advance notice of Wall Street Journal articles. The 55-count indictment also charges that Clark, 37, embezzled more than $3.7 million from clients of his Park Avenue law firm and evaded federal taxes on the sum in 1980, 1981 and 1982.
July 30, 1988 |
The government may face a tough job building a case against those who have profited from advance information on what was being published in a stock column in Business Week magazine, securities law experts say.
July 22, 1988 |
Business Week magazine said Thursday that it was conducting an internal investigation to determine whether unusual trading in certain stocks during the past several weeks was based on a leak of what would appear in the weekly magazine's "Inside Wall Street" column.
June 25, 1985 |
A federal judge Monday found a former Wall Street Journal reporter guilty of illegally giving a ring of stock speculators the names of companies mentioned in articles about to be published by the newspaper. U.S. District Judge Charles E. Stewart Jr. found R. Foster Winans, 36, guilty of 59 counts of fraud and conspiracy. He faces up to five years in prison on each count.