More Legal Woes for Martha Stewart
She's done the time, but Martha Stewart is still dealing with the crime. By Thursday, she must respond to civil charges against her by the U.S. Securities and Exchange Commission over insider trading of ImClone Systems stock.
After a highly publicized criminal case, Stewart spent five months in prison from 2004 to 2005 and another five and a half months under house arrest for lying to prosecutors about selling 4,000 shares of ImClone in late 2001.
The civil lawsuit against her was stayed during the criminal trial and was only lifted last month, prosecutors told the New York Times.
If Stewart, 64, pleads not guilty by the end of Thursday, she will be required to appear for a deposition, which the Times says would place her in a "precarious"' legal position.
Stewart may negotiate a settlement at any time over the next few months as the trial looms, says the Times.
Stewart's attorney, Dennis J. Block, did not return calls by the Times seeking comment.