Business Services Industry
Martha Stewart's Investors Stewing; Stockholders Angry She Hid SEC Probe.
Knight Ridder/Tribune Business News, October, 2002
By Greg B. Smith, Daily News, New York Knight Ridder/Tribune Business News
Oct. 23--Martha Stewart could face even more trouble from angry stockholders in her own company because she kept her new woes with the SEC a secret, lawyers and experts said yesterday.
They warned that Stewart might be held liable for not disclosing that government investigators informed her weeks ago they were likely to pursue civil fraud charges against her for insider trading.
The law firm leading a shareholder revolt against Stewart told the Daily News it was already looking into adding to the charges against her and her company, Martha Stewart Living Omnimedia.
"We may have to expand the class," said lawyer Melvyn Weiss, whose firm has filed two...
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