Ethics and Martha Stewart's Indictment
Essay specific features
February 27, 2016
No of pages / words:
6 / 1546
Rating of current essay:
The day after she sold, the Food and Drug Administration (FDA) refused to approve ImClone's new cancer drug and the company's stock plummeted (Associated Press 2006). Had Stewart waited to sell, she could have potentially lost over $50,000 had she waited to sell.
The ethical implications here involve the concept of insider trading...
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If one considers this from a purely utilitarian point of view, her actions make sense and seem justified. She was informed that a company she had a stake in was about to lose value so she sold it before it did. If you have a piece of information concerning a certain investment that you own, who wouldn't act on it? No one might be hurt from this action and it of course saved her a great deal of money...
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