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ImClone Stock Trading Case
A U.S. Securities and Exchange Commission and U.S. Attorney probe of trading in the shares of ImClone Systems resulted in a widely publicized criminal case, which resulted in prison terms for businesswoman and television personality Martha Stewart, ImClone CEO Samuel D. Waksal and Stewart's broker at Merrill Lynch, Peter Bacanovic. History ImClone's stock price dropped sharply at the end of 2001 when its drug Erbitux, an experimental monoclonal antibody, failed to get the expected Food and Drug Administration (FDA) approval. It was later revealed by the U.S. Securities and Exchange Commission that prior to the announcement (after the close of trading on December 28) of the FDA's decision, numerous executives sold their stock. ImClone's founder, Samuel D. Waksal, was arrested in 2002 on insider trading charges for instructing friends and family to sell their stock, and attempting to sell his own. His daughter, Aliza Waksal, sold $2.5 million in shares on December 27. His father, Jack ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
ImClone Systems
ImClone Systems Incorporated was a biopharmaceutical company dedicated to developing biologic medicines in the area of oncology. It was founded in 1984 and had its corporate headquarters in Bridgewater, New Jersey, and its research headquarters in New York City. On October 6, 2008, it accepted a $6.5 billion acquisition offer from Eli Lilly and Company, and became a fully-owned subsidiary of Eli Lilly and Company on November 24, 2008. Prior to the acquisition, it was traded on the NASDAQ stock exchange under the symbol IMCL. Imclone lost its separate identity in 2014 when its former ImClone research and manufacturing sites were renamed ''Eli Lilly and Company''. Insider trading scandal ImClone's stock price dropped sharply at the end of 2001 when its drug Erbitux, an experimental monoclonal antibody, failed to get the expected Food and Drug Administration (FDA) approval. It was later revealed by the U.S. Securities and Exchange Commission that numerous executives sold their stoc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Fraud
Bank fraud is the use of potentially illegal means to obtain money, assets, or other property owned or held by a financial institution, or to obtain money from depositors by fraudulently posing as a bank or other financial institution. In many instances, bank fraud is a criminal offence. While the specific elements of particular banking fraud laws vary depending on jurisdictions, the term bank fraud applies to actions that employ a scheme or artifice, as opposed to bank robbery or theft. For this reason, bank fraud is sometimes considered a white-collar crime. Types of bank fraud Accounting fraud In order to hide serious financial problems, some businesses have been known to use fraudulent bookkeeping to overstate sales and income, inflate the worth of the company's assets, or state a profit when the company is operating at a loss. These tampered records are then used to seek investment in the company's bond or security issues or to make fraudulent loan applications in a fi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Securities Exchange Act Of 1934
The Securities Exchange Act of 1934 (also called the Exchange Act, '34 Act, or 1934 Act) (, codified at et seq.) is a law governing the secondary trading of securities (stocks, bonds, and debentures) in the United States of America. A landmark of wide-ranging legislation, the Act of '34 and related statutes form the basis of regulation of the financial markets and their participants in the United States. The 1934 Act also established the Securities and Exchange Commission (SEC), the agency primarily responsible for enforcement of United States federal securities law. Companies raise billions of dollars by issuing securities in what is known as the primary market. Contrasted with the Securities Act of 1933, which regulates these original issues, the Securities Exchange Act of 1934 regulates the secondary trading of those securities between persons often unrelated to the issuer, frequently through brokers or dealers. Trillions of dollars are made and lost each year through ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Securities Act Of 1933
The Securities Act of 1933, also known as the 1933 Act, the Securities Act, the Truth in Securities Act, the Federal Securities Act, and the '33 Act, was enacted by the United States Congress on May 27, 1933, during the Great Depression and after the stock market crash of 1929. It is an integral part of United States securities regulation. It is legislated pursuant to the Interstate Commerce Clause of the Constitution. It requires every offer or sale of securities that uses the means and instrumentalities of interstate commerce to be registered with the SEC pursuant to the 1933 Act, unless an exemption from registration exists under the law. The term "means and instrumentalities of interstate commerce" is extremely broad and it is virtually impossible to avoid the operation of the statute by attempting to offer or sell a security without using an "instrumentality" of interstate commerce. Any use of a telephone, for example, or the mails would probably be enough to subject the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
USA Today
''USA Today'' (stylized in all uppercase) is an American daily middle-market newspaper and news broadcasting company. Founded by Al Neuharth on September 15, 1982, the newspaper operates from Gannett's corporate headquarters in Tysons, Virginia. Its newspaper is printed at 37 sites across the United States and at five additional sites internationally. The paper's dynamic design influenced the style of local, regional, and national newspapers worldwide through its use of concise reports, colorized images, informational graphics, and inclusion of popular culture stories, among other distinct features. With an average print circulation of 159,233 as of 2022, a digital-only subscriber base of 504,000 as of 2019, and an approximate daily readership of 2.6 million, ''USA Today'' is ranked as the first by circulation on the list of newspapers in the United States. It has been shown to maintain a generally center-left audience, in regards to political persuasion. ''USA Today ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
ImClone
ImClone Systems Incorporated was a biopharmaceutical company dedicated to developing biologic medicines in the area of oncology. It was founded in 1984 and had its corporate headquarters in Bridgewater, New Jersey, and its research headquarters in New York City. On October 6, 2008, it accepted a $6.5 billion acquisition offer from Eli Lilly and Company, and became a fully-owned subsidiary of Eli Lilly and Company on November 24, 2008. Prior to the acquisition, it was traded on the NASDAQ stock exchange under the symbol IMCL. Imclone lost its separate identity in 2014 when its former ImClone research and manufacturing sites were renamed ''Eli Lilly and Company''. Insider trading scandal ImClone's stock price dropped sharply at the end of 2001 when its drug Erbitux, an experimental monoclonal antibody, failed to get the expected Food and Drug Administration (FDA) approval. It was later revealed by the U.S. Securities and Exchange Commission that numerous executives sold th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Manhattan
Manhattan (), known regionally as the City, is the most densely populated and geographically smallest of the five Boroughs of New York City, boroughs of New York City. The borough is also coextensive with New York County, one of the List of counties in New York, original counties of the U.S. state of New York (state), New York. Located near the southern tip of New York State, Manhattan is based in the Eastern Time Zone and constitutes both the geographical and demographic center of the Northeast megalopolis and the urban core of the New York metropolitan area, the largest metropolitan area in the world by urban area, urban landmass. Over 58 million people live within 250 miles of Manhattan, which serves as New York City’s economic and administrative center, cultural identifier, and the city’s historical birthplace. Manhattan has been described as the cultural, financial, Media in New York City, media, and show business, entertainment capital of the world, is considered a saf ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Willem De Kooning
Willem de Kooning (; ; April 24, 1904 – March 19, 1997) was a Dutch-American abstract expressionist artist. He was born in Rotterdam and moved to the United States in 1926, becoming an American citizen in 1962. In 1943, he married painter Elaine Fried. In the years after World War II, de Kooning painted in a style that came to be referred to as abstract expressionism or " action painting", and was part of a group of artists that came to be known as the New York School. Other painters in this group included Jackson Pollock, Elaine de Kooning, Lee Krasner, Franz Kline, Arshile Gorky, Mark Rothko, Hans Hofmann, Nell Blaine, Adolph Gottlieb, Anne Ryan, Robert Motherwell, Philip Guston, Clyfford Still, and Richard Pousette-Dart. De Kooning's retrospective held at MoMA in 2011–2012 made him one of the best-known artists of the 20th century. Biography Willem de Kooning was born in Rotterdam, the Netherlands, on April 24, 1904. His parents, Leendert de Koonin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Roy Lichtenstein
Roy Fox Lichtenstein (; October 27, 1923 – September 29, 1997) was an American pop artist. During the 1960s, along with Andy Warhol, Jasper Johns, and James Rosenquist among others, he became a leading figure in the new art movement. His work defined the premise of pop art through parody. Inspired by the comic strip, Lichtenstein produced precise compositions that documented while they parodied, often in a tongue-in-cheek manner. His work was influenced by popular advertising and the comic book style. His artwork was considered to be "disruptive". He described pop art as "not 'American' painting but actually industrial painting". His paintings were exhibited at the Leo Castelli Gallery in New York City. '' Whaam!'' and ''Drowning Girl'' are generally regarded as Lichtenstein's most famous works. ''Drowning Girl'', ''Whaam!,'' and '' Look Mickey'' are regarded as his most influential works. His most expensive piece is ''Masterpiece'', which was sold for $165 milli ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Richard Serra
Richard Serra (born November 2, 1938) is an American artist known for his large-scale sculptures made for site-specific landscape, urban, and architectural settings. Serra's sculptures are notable for their material quality and exploration of the relationship between the viewer, the work, and the site. Since the mid-1960s, Serra has worked to radicalize and extend the definition of sculpture beginning with his early experiments with rubber, neon, and lead, to his large-scale steel works. Early life and education Serra was born in San Francisco, California to Tony and Gladys Serra – the second of three sons. From a young age, he was encouraged to draw by his mother. The young Serra would carry a small notebook for his sketches and his mother would introduce her son as "Richard the artist." His father worked as a pipe fitter for a shipyard near San Francisco. Serra recounts a memory of a visit to the shipyard to see a boat launch when he was four years old. He watched as t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mark Rothko
Mark Rothko (), born Markus Yakovlevich Rothkowitz (russian: Ма́ркус Я́ковлевич Ротко́вич, link=no, lv, Markuss Rotkovičs, link=no; name not Anglicized until 1940; September 25, 1903 – February 25, 1970), was a Latvian-American abstract painter. He is best known for his color field paintings that depicted irregular and painterly rectangular regions of color, which he produced from 1949 to 1970. Although Rothko did not personally subscribe to any one school, he is associated with the American Abstract Expressionist movement of modern art. Originally emigrating to Portland, Oregon from Russia with his family, Rothko later moved to New York City where his youthful period of artistic production dealt primarily with urban scenery. In response to World War II, Rothko's art entered a transitional phase during the 1940s, where he experimented with mythological themes and Surrealism to express tragedy. Toward the end of the decade Rothko painted canva ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wire Fraud
Mail fraud and wire fraud are terms used in the United States to describe the use of a physical or electronic mail system to defraud another, and are federal crimes there. Jurisdiction is claimed by the federal government if the illegal activity crosses interstate or international borders. Mail fraud Mail fraud was first defined in the United States in 1872. provides: Whoever, having devised or intending to devise any scheme or artifice to defraud, or for obtaining money or property by means of false or fraudulent pretenses, representations, or promises, or to sell, dispose of, loan, exchange, alter, give away, distribute, supply, or furnish or procure for unlawful use any counterfeit or spurious coin, obligation, security, or other article, or anything represented to be or intimated or held out to be such counterfeit or spurious article, for the purpose of executing such scheme or artifice or attempting so to do, places in any post office or authorized depository for mail ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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