$30 Million Class Action Lawsuit Settlement by Martha Stewart
A class action lawsuit filed by Martha Stewart’s investors for providing false information regarding a stock sale of ImClone shares in 2001 to them, has been agreed to be settled for $30 million.
The class-action complaint consolidated several 2002 lawsuits that were filed in the wake of the homemaking maven’s insider-trading scandal that stemmed from her sale of 4,000 shares of ImClone in December 2001—one day before the biotech company went public with stock-damaging news that the feds were giving the thumbs-down to its new cancer drug.
An investigation revealed that Stewart had sold 4,000 shares of ImClone stock one day before the company announced damaging news regarding a new cancer drug.
Filed under Class Action, General Law, Settlements
You may also like to read
- $10 Million Class Action Settlement against German Drugmaker Bayer
- $2Million Fatal Pennsylvania Motor Vehicle Lawsuit Settlement
- Google $90 Million Click-Fraud Settlement Will Be Revised
- Bitterroot National Forest in Law Suit by Bitterroot Residents
- $35 Million CNL Hotels & Resorts Class Action Settlement Got Final Approval
- Shell Prepare for $500 Million Class Action Settlement
- $13 Million Settlement in Kmart Disability Lawsuit
- Vioxx Lawsuit Update - Consumer Perspective
- Five Class Action Lawsuits Settled for $1 Million
- Quovadx, Inc. Will Pay $9 Million in A Class Action Lawsuit Settlement
