[Jimmy Valentine]

If you are privy to any information that is not available to the general public and you effect a trade that benefits you, you have violated the law.

Martha is in some big trouble here. 1. She traded on inside information 2. She lied about it. 3. She is stonewalling Congress.

Regards,

[Truth29]

But which is it? Did she have inside info from Waksal or did her broker call her with a tip?

[chuknospam]

Martha is in some big trouble here

She is a high profile celebrity, she won't be prosecuted, it will all be covered up nice & neat (with a number of political donations).

[grania]

One member of the committee says the e-mails show brokers Peter Bacanovic and Douglas Faneuil, had inside dope that the Food and Drug Administration would reject Erbitux - and wanted to tell the Queen of Clean before ImClone's stock price tanked.

You wrote "she traded on insider information". Would this be insider information, if she got the advice to sell from her brokers? This sounds like it was the brokers that initiated her sale with this call.

[JoeGar]

Martha is in some big trouble here. 1. She traded on inside information 2. She lied about it.

Thanks for the info. It appears that proving 1 will be more difficult than proving 2. See ...

http://www.usatoday.com/money/industries/retail/2002-08-12-martha_x.htm