Martha Thanks Fans for Their Support
03/08/2004 AT 04:57 PM EST
Climbing into the SUV that got her back and forth to court every day during her six-week trial, the domestic diva -- wielding an umbrella bearing the logos of various Martha Stewart product brands -- stated just before closing the car door behind her: "I want to thank my readers, my viewers and the Internet users. I just want to thank everyone for their support."
Stewart, accompanied Monday by her lead lawyer Robert Morvillo and attorney Rebecca Monck, did not comment on the probation meeting, which was the first step toward her sentencing on June 17.
Meanwhile on Monday, shares of Stewart's namesake company, Martha Stewart Living Omnimedia Inc., were down 90 cents to close at $9.90 on the New York Stock Exchange after tumbling 23 percent on Friday following the guilty verdict.
Also on Monday, her firm's board of directors met for discussions about Stewart's future role in the company. No comment was made following that meeting. Stewart stepped down as chief executive and chairman of the board last June after being indicted, but as of last week she still remained as chief creative officer and a member of the board.
Stewart also resigned from the board of directors of Revlon Inc. after a nearly eight-year tenure, the cosmetics giant announced Monday. In addition, reports The New York Times, Stewart's syndicated newspaper columns, "AskMartha" and "AskMartha Weddings," will now be written by editors other than Stewart herself and renamed, respectively, "Living" and "Weddings."
Immediately after the convictions were announced on Friday, Viacom pulled Stewart's syndicated show, "Martha Stewart Living," off of its CBS-owned and operated stations and UPN stations. In addition, Stewart faces probable civil lawsuits from investors who claim that her legal troubles sent the stock price of her Martha Stewart Living Omnimedia into the trash bin.
According to reports, Stewart's former stockbroker and her co-defendant in the high-profile case, Peter Bacanovic, spent about a half-hour at the same courthouse earlier on Monday at his own probation meeting.
Stewart, 62, and Bacanovic, 41, are each expected to be sentenced to somewhere between 10 to 16 months in prison after they were each convicted on four counts -- Stewart, of conspiracy, making false statements and obstruction of justice. Bacanovic was found guilty of conspiracy, false statements, obstruction and perjury. (He was cleared of falsifying a document.)
U.S. District Judge Miriam Goldman Cedarbaum, who oversaw the trial, will determine the sentences, or even whether Stewart or Bacanovic might spend part of their time in halfway houses or in home confinement. Before that decision, prosecutors and defense lawyers will submit papers arguing for tougher or lighter sentences.