Martha Stewart's Co. To Settle ImClone Suit For $30M

Law360, New York (November 8, 2006, 12:00 AM EST) -- Martha Stewart Living Omnimedia Inc. said Wednesday that founder Martha Stewart would pay about $5 million to settle a class action lawsuit stemming from her dumping of shares of ImClone Systems Inc.

In a regulatory filing with the U.S. Securities and Exchange Commission, the company said that last month it negotiated a settlement that allows it to end the suit for $30 million.

The company will pay about $15 million, and the company’s insurers will cover about $10 million. Stewart will pay the remaining approximately $5...
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