Word: sec
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...Stewart could face 25 years in prison, $2 million in fines and permanent damage to the company that bears her name and fortune. (She owns 61% of the stock, worth $310 million.) In addition to criminal charges, she faces a civil case brought by the Securities and Exchange Commission (SEC), alleging insider trading. Stewart's lawyers say she "has done nothing wrong" and has become a celebrity scapegoat for more egregious, if less glamorous, corporate criminals. And her many fans agree, including some who say she's being targeted as an uppity woman executive who has made...
...Department of Justice and the SEC have been investigating Stewart since early January 2002, just days after she sold about $228,000 of ImClone stock. It was a decision she made grudgingly, according to testimony given to the SEC by Stewart's broker at Merrill Lynch, Peter Bacanovic, because it meant admitting she was wrong. Bacanovic said he and Stewart had reviewed her entire portfolio in a pre-Christmas session of tax planning and disagreed about what to do with her 3,928 shares of ImClone. "She wanted to hold the stock, and I challenged that by saying, 'The stock...
...shares and avoided losses of $45,673, the indictment says. Waksal pleaded guilty in October to six counts of securities fraud and obstruction of justice related to his attempted sale. He is scheduled for sentencing this week. In March he partly settled insider-trading charges brought by the SEC...
...other class-conscious sitcoms take a look at the wacky rich. In "Arrested Development," a wealthy, eccentric family gets into trouble with the SEC and starts to come apart at the seams. In the midseason "Cracking Up," a psychology student is assigned to live with a rich family, whose members turn out to be sociopaths, obsessives or just creepy. It's from Mike White, who created the fantastic 2001 "Pasadena" for Fox, and it seems basically like that soap opera's twisted-rich story rewritten as a comedy - let's hope it fares better the second time. Finally, there...
...little guy' who isn't smart about the nuances may get misled, such is the nature of my business." LEHMAN BROS. ANALYST, in an e-mail to an institutional investor, disclosed as part of an SEC settlement of conflict-of-interest charges against Wall Street firms...