attorney for the Southern District of New York when cancer drug company ImClone CEO Sam Waksal
attracted prosecutors' attention for insider trading.<br />Waksal sold company stock after finding out that his firm's drug was going to be rejected by the Food and Drug Administration.
According to the New York Times, Dunne partnered with disgraced ImClone founder Sam Waksal
on a number of downtown loft conversions before Waksal was jailed in 2002 for insider trading in a scandal that also landed Martha Stewart behind bars.
Martha Stewart's daughter had dated Sam Waksal
, founder of ImClone Systems, a drug development company.
, the former chief executive of ImClone Systems Inc.
Insider trading Martha Stewart, founder and former 2.19 president of Martha Stewart Living Omnimedia, Inc., allegedly received insider trading information from the now convicted former CEO of ImClone, Inc., Sam Waksal
. It's alleged that when Waksal learned that an important cancer-fighting drug developed by ImClone wouldn't be approved by the FDA, a broker called Stewart before the information was made public.
Over the past few months, the federal prosecutors have had a pretty good record--look at Martha Stewart, Sam Waksal
, or the Rigases.
It was December 27, 2001, when Stewart, in a brief phone call on her way to a Mexican holiday, sold 3,928 shares of ImClone Systems, a company run by her long-time friend Sam Waksal
It was December 27, 2001, when Stewart, in a brief phone call from a Texas airport on her way to a Mexican holiday, sold 3,928 shares of ImClone Systems, a company run by her long-time friend Sam Waksal
If she is the victim of an injustice, does the same contention apply to her mentor Sam Waksal
of ImClone, who is now serving time for his insider trading?
The conviction of ImClone CEO Sam Waksal
on insider trading violations is an example of executive greed.
On the morning of December 27, the day before the bad news was to be made public, Aliza Waksal, the daughter of the firm's CEO, Sam Waksal
, told Douglas Faneuil, the assistant to her Merrill Lynch broker, Peter Bacanovic, to sell the ImClone shares in her account.
Prior to selling her ImClone shares, Stewart received material, nonpublic information from her broker, and then she tried to speak with Sam Waksal
for the purpose of receiving additional information.