Stewart Settles With SEC
Media mogul and ex-convict Martha Stewart will settle a class action lawsuit that alleged she lied about a stock sale of ImClone Inc. shares. As revealed in a Nov. 8 SEC filing, Stewart will pay $5 million out of her own pocket while her company, Martha Stewart Living Omnimedia Inc.,...
November 10, 2006 at 06:18 AM
2 minute read
The original version of this story was published on Law.com
Media mogul and ex-convict Martha Stewart will settle a class action lawsuit that alleged she lied about a stock sale of ImClone Inc. shares.
As revealed in a Nov. 8 SEC filing, Stewart will pay $5 million out of her own pocket while her company, Martha Stewart Living Omnimedia Inc., will foot $15 million of the $30 million settlement. The rest will come from the company's insurers.
The large personal payment comes several months after Stewart coughed up $195,000 to settle civil insider-trading charges with the SEC. That settlement also barred Stewart from serving as a director of a public company for five years.
Stewart spent five months in prison beginning in October 2004 after she was found guilty of four counts of obstructing justice and lying to prosecutors about the circumstances surrounding the sale of her ImClone stock.
Media mogul and ex-convict Martha Stewart will settle a class action lawsuit that alleged she lied about a stock sale of
As revealed in a Nov. 8 SEC filing, Stewart will pay $5 million out of her own pocket while her company,
The large personal payment comes several months after Stewart coughed up $195,000 to settle civil insider-trading charges with the SEC. That settlement also barred Stewart from serving as a director of a public company for five years.
Stewart spent five months in prison beginning in October 2004 after she was found guilty of four counts of obstructing justice and lying to prosecutors about the circumstances surrounding the sale of her
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