The lie that costed Martha Stewart several millions in punitive damages and loss in the price per share of her publicly traded stocks is about to be buried and forgotten with the final settlement of the civil suit.
Excerpt of the news:
Martha Stewart agreed to pay $195,000 to settle civil insider-trading claims yesterday, marking the end of a long and costly legal battle that sent her to prison only to reemerge as a celebrity on television and in her namesake magazine.
The settlement, which requires court approval, resolves civil charges against Stewart stemming from her December 2001 sale of stock in ImClone Systems Inc. Securities and Exchange Commission lawyers argued that Stewart took advantage of inside information to avoid $45,673 in losses before a negative announcement about ImClone's signature cancer drug. Two years ago, a jury convicted Stewart of lying to investigators about the sale.
Washington Post has the news about the fallen goddess of the home improvement business.
breaking-news,Washington Post ,BBC News ,Reuters,technology,business
Tuesday, August 08, 2006
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