Martha Stewart’s insider trading woes have harmed her company, published reports said. Martha Stewart Living Omnimedia said in a regulatory filing with the Securities and Exchange Commission that investigations into the domestic diva’s sale of stock in ImClone Systems are hurting advertising revenues for the Martha Stewart Living magazine and television show. Her legal difficulties are also responsible
Martha Stewart’s insider trading woes have harmed her company, published reports said.
Martha Stewart Living Omnimedia said in a regulatory filing with the Securities and Exchange Commission that investigations into the domestic diva’s sale of stock in ImClone Systems are hurting advertising revenues for the Martha Stewart Living magazine and television show.
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Her legal difficulties are also responsible for a decline in the company’s direct mail business.
The company’s retail business at Kmart has not been hurt by the scandal, but Kmart’s bankruptcy and declining sales, will harm sales.
The SEC has said it has enough evidence to file a civil suit against Stewart. She has denied any wrongdoing.
