June 4, 2003

The Martha Stewart Watch II

The Washington Post reports today that a federal grand jury has indicted Martha Stewart and her broker on conspiracy, obstruction of justice, and false statement charges stemming from a federal investigation of alleged insider trading in ImClone Systems stock. Meanwhile, the securities class action against Ms. Stewart and her company, Martha Stewart Living Omnimedia, Inc., continues.

Quote of note: "Disgruntled shareholders have alleged in class-action lawsuits that Stewart violated securities laws by failing to disclose she was under investigation when she sold 3 million shares in a prearranged sale to a company run by another board member on Jan. 8, 2002."

Posted by Lyle Roberts at June 4, 2003 3:05 PM | TrackBack
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