Prosecutor Says Martha Stewart Spun Web of Lies About Shares

Article Abstract:

Prosecutor Karen Patton Seymour launched the Martha Stewart securities fraud, false statements and dcouments, obstruction of justice, and conspiracy case with an opening statement in which she accused Ms. Stewart of using information from members of ImClone Systems founder Samuel Waskal's family to sell her stock for her financial advantage. Stewart is also accused of lying about her actions to investors in her own company to sustain their faith in her and protect the price of Martha Stewart Living Omnimedia securities. Her attorney, Robert Morvillo, responded in his statement with the fact the his client had planned to sell her InClone shares if the price reached below $60. Her broker, Peter E. Bacanovic is on trial with her. His former assistant, Daniel Faneuil, is expected to verify the prosecution's case.

Public prosecutors, False information (Law), Seymour, Karen Patton

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Martha Stewart Magazine Cuts Ad Rate Base as Readers Decline

Article Abstract:

Martha Stewart Living, one of the leading home decor and culinary magazines in the publishing industry, has announced a reduction in its rate base for advertisers that would reduce the cost of a one-page, four-color print ad from $129,766 to $107, 640. Subscriber and newstand copy sales have declined 22%, or 2.3 million to 1.8 million magazines. This development follows a series of downward trends in Martha Stewart Living Omnimedia finances that continue to be impacted by owner Martha Stewart's securities fraud and obstruction of justice case. Stewart's trial is scheduled to start Jan. 12, 2004.

Financial management, Commodity & service prices, Advertising, Advertising and Related Services, Magazine Advertising, Labor Distribution by Employer, Economic aspects, Finance, Prices and rates, Statistics, Periodical publishing, Company financing, Periodical subscriptions, Company pricing policy, Periodical circulation, Martha Stewart Living Omnimedia Inc., Martha Stewart Living (Periodical)

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Jury Selection to Begin Today In the Trial of Martha Stewart

Article Abstract:

Martha Stewart's trial for securities fraud, obstruction of justice and conspiracy begins with jury selection Monday, Jan. 6, 2004. She is charged with having advanced knowledge about detrimental news that would impact her ImClone stock that led her to sell her shares to avoid a financial loss in 2001. What remains an unknown factor is whether or not Stewart will testify in her own defense.

Waskal, Sam

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