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Martha Stewart and Insider Trading According to Section 10(b) of the Securities Exchange Act of 1934, insider trading is “any manipulative or deceptive device in connection with the purchase or sale of any security." This ruling served as a deterrent for the early part of this century before the stock market became such a vital part of our lives. But as the 1960's arrived and illegal insider activity began to pick up, courts were confused by …

…nation and made herself a billionaire in the process. Her fans disagree and are saying that Stewart is incapable of such things she is accused for. Stewart’s own company has been damaged by the scandal, which has underscored the fact that it has only one product, Martha Stewart and if she is damaged goods, so is the company. Stewart has lost over $200 million dollars in the last year, nearly a quarter of her wealth.