... announced its refusal to review ImClone's application for its promising cancer drug, Erbitrux. The price of the ImClone's stock went down to 45.39 per share on December 31st and Stewart gained $51,200 by selling on the 27th. This price drop in the ... undermining of investor confidence and, arguably, the disproportionate share of returns accruing to insiders. The trade presents an unfair situation for those who are investing in the stock. Patricia H. Werhane, a professor who teaches ethics in the Darden MBA program argues that insider trading is wrong both on principle and economic grou...

• Word Count: 1345
• Approx Pages: 5
• Has Bibliography
• Grade Level: High School