Ken NJ
INReview Maven
offline
Registered: Dec 2003
Local time: 02:23 AM
Location: NJ
Posts: 4930
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Two important points:
1. News just in, jury of 8 women and 4 men found Martha Stewart guilty on all four counts and Peter Bacanovic on four of five counts which included false statements, perjury, conspiracy and obstruction of justice.
Both will be sentenced to jail, as likely with so many counts of conviction. Both are now considered convicted felons. Stewart will now have to get her financial affairs together and report back to court for sentencing.
The sentencing date is June 17th, 2004.
2. Martha Stewart company (MSO) before the news was trading up 25% today, after the judge threw out the inside-trading count. There were a lot of people thinking she will beat the charges and bought her stock heavily. Many were on short positions.
Just now, new reported that the stock exchange has shut down the trading of MSO because of massive market reaction. There will be a lot of people affected, couple of hundred million dollars.
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03-05-2004 08:22 PM
