Settlement by Stewart firm OKd
Martha Stewart Living Omnimedia Inc. shareholders have received approval for a $30-million settlement in a lawsuit that claimed that the company founder and other executives lied about the risks posed to the company by the investigation into its founder’s stock trading.
The settlement applies to holders who purchased stock of the New York-based media company from Jan. 8, 2002, to Oct. 2, 2002, law firm Milberg Weiss & Bershad said.
Martha Stewart contributed $5 million of her personal funds to the settlement. She and the other defendants denied wrongdoing.
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