Im Clone Stock Trading Case - Trial

Trial

Stewart's trial was initially set for January 12, 2004, at the request of her lawyers who said they needed more time to analyze the evidence. The trial eventually began on January 20 in New York City presided over by U.S. District Judge Miriam Goldman Cedarbaum. During the trial, Stewart maintained her innocence.

On February 27, 2004, Judge Cederbaum threw out the charge of securities fraud which could have led to up to ten years in prison and a $1 million fine. The judge found that "no reasonable juror can find beyond a reasonable doubt that the defendant lied for the purpose of influencing the market for the securities of her own company."

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