Financial Services Industry
Industry: Email Alert RSS FeedUS venture capital firm named in Martha Stewart suit.
Financial News, August, 2002
Byline: Yasmine Chinwala
Kleiner Perkins Caufield & Byers, the US venture capital firm, has been named as a defendant in the class action lawsuit against Martha Stewart Living Omnimedia (MSLO), the home and lifestyles media group, over alleged insider trading.The defendants include Martha Stewart herself, and John Doerr, a partner at Kleiner Perkins who is on the board of MSLO, Kleiner Perkins Caufield & Byers and seven other Martha Stewart executives.
The suit, brought by MSLO shareholders, alleges that the defendants issued misleading statements to the market between January 8, 2002 and July 24,2002.
The complaint alleges that based on insider information, Stewart sold all of her 4,000 shares in ImClone, the Nasdaq-listed...
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