Martha Stewart Settles Civil Charges

WNYC News | Jul 12, 2010

New York, NY —

Martha Stewart has agreed to pay a fine and stay away from leading a company for the next five years, to settle civil charges of insider trading.

Under the deal with the Securities and Exchange Commissioner, Stewart will pay about $195,000 and cannot serve as the director of a public company for five years.

Stewart sold ImClone shares a day before the FDA announced it had decided not to review ImClone's application for a new cancer drug.

The founder of Martha Stewart Living Omnimedia served five months in prison for lying about the sale.

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