Business Case Studies & Business Publications

Steve Maiden (B): A Hedge Fund Manager H...

Adams, Gabrielle, ...

Case

Steve Maiden (B): A Hedge Fund Manager Hits Rock Bottom

Adams, Gabrielle; Belmi, Peter; Sesia, Aldo

OB-1438 | Published August 30, 2023 | 5 Pages Case

Collection: Darden School of Business

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This case, a follow-up to "Steve Maiden (A): A Hedge Fund Manager's Fall from Grace" (UVA-OB-1437), continues the story of Steve Maiden, an ambitious young hedge fund manager whose profile is not unlike that of many MBA students. In May 2013, Maiden pleaded guilty to securities fraud. This case covers the 21 months until his sentencing, in which Maiden struggled to make peace with his actions and their consequences, to do a new kind of work, and to help his family through hardship in the aftermath of what he'd done. It also follows him to prison in 2015 and details his years spent as an inmate. This case series (consisting of UVA-OB-1437, UVA-OB-1438, and UVA-OB-1439) provides an inside look at Maiden's rise, demise, and resurrection. It gives students a unique opportunity to witness events as they unfolded, and read Maiden’s own words about his thoughts and feelings as things unraveled, as well as his candid reflections on what he learned from the experience. This case series is suitable for a variety of courses, including those on ethics, organizational behavior, leadership, and management. It has been used in "Values-Based Leadership," a core course of the Master of Public Policy curriculum at the University of Virginia's Frank Batten School of Leadership and Public Policy.

- Examine the ways in which power, privilege, and success influence unethical behavior - Explore the psychological mechanism of escalation of commitment, in which one small transgression leads to more and larger transgressions - Understand the risks of "going it alone" and the importance of making decisions in the context of a team of trusted confidants