Martha Stewart sold 3,928 shares of ImClone stock after allegedly learning from her stockbroker that the corporations
Question:
Martha Stewart sold 3,928 shares of ImClone stock after allegedly learning from her stockbroker that the corporation’s chief executive office was seeking to sell his shares. It was suspected that Stewart was acting on inside information that the Food and Drug Administration was going to reject the company’s application for approval to market a lead product.
While these charges were being investigated by various government agencies, Stewart composed an email that contained her account of the facts relating to her sale of the stock. After sending the email to one of her lawyers, Stewart forwarded a copy to her daughter. In preparation for trial, the U.S. Attorney sought access to the email as part of the discovery process. Is Stewart required to produce the email for government inspection? Fully explain.
Step by Step Answer:
Law for Business
ISBN: 978-1259722325
13th edition
Authors: A. James Barnes, Terry M. Dworkin, Eric L. Richards