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Stewart to contest insider trading lawsuit
0 Comments | Deseret News (Salt Lake City), May 26, 2006
NEW YORK (Bloomberg) -- Martha Stewart, who was convicted of lying to federal authorities about a 2001 sale of ImClone Systems Inc. stock, has chosen to contest a Securities and Exchange Commission insider trading lawsuit rather than seek a settlement.
Stewart, the founder of Martha Stewart Living Omnimedia, maintains her innocence and has filed documents that say she hasn't settled the case, said Alexander Vasilescu, an SEC lawyer.
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Stewart, 63, served five months in prison and five months of home detention after she was convicted of obstruction of justice and conspiracy. The SEC suit seeks to bar Stewart from being an officer or a director of a public company as well as forfeiture of any ill- gotten gains from the stock sales.
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