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Martha Stewart Settles Civil Charges With SEC

Law360 (August 7, 2006, 12:00 AM EDT) -- Martha Stewart settled with the U.S. Securities and Exchange Commission for $195,000 on Monday, thus ending one of the most talked-about legal proceedings in recent memory.

Under the terms of the agreement, Stewart received the maximum penalty of three times the losses she avoided by selling approximately 4,000 shares of ImClone Systems Inc. the day before the stock plummeted, following a ruling by the U.S. Food and Drug Administration against the drug company’s Erbitux cancer drug.

The domestic tycoon also received a five-year ban from serving...
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