Securities Law
Martha Stewart Living Settles Class Action
Posted May 31, 2007, 11:45 am CST
By Debra Cassens Weiss
A federal judge has approved a $30 million settlement of a class action lawsuit brought by shareholders of Martha Stewart Living Omnimedia.
Martha Stewart will personally pay $5 million of the settlement, Reuters reports. She served five months in jail for lying to investigators probing her sale of stock in ImClone Systems.
The suit had contended the shareholders lost money because of the scandal and misleading statements made by the company.