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Please take a look at the case below. This is one of the more famous insider trading cases of recent years and involved a writer of a Wall Street Journal column providing information to others in advance of publication of the article. Under what theory of insider trading should the prosecution of this case proceed? Is it important that we vigorously prosecute insider trading? How much insider trading goes on and is rarely caught (the Martha Stewart situation)?
Business Ethics R. Foster Winans, a reporter for the Wall Street Journal, was one of the writers of the “Heard on the Street” column, a widely read and influential column in theJournal.