Martha to pay millions for insider trading

Story by the Associated Press

9:30 a.m. Thursday, November 9, 2006

Martha Stewart will have to use $5 million of her own money to complete the settlement of a class action lawsuit, relating to her sale of ImClone stock in 2001.

The total sum of the suit is $30 million.

Her company, Martha Stewart Living OmniMedia, and insurers will pay the remainder.

The lawsuit claims Stewart lied about her sale of the ImClone shares.

She was convicted in 2004 of lying to federal prosecutors and served five months in prison.


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