SEC v. Martha Stewart and Peter Bacanovi
Litigation Release No. 19794 / August 7, 2006, SEC v. Martha Stewart and Peter Bacanovi, 03 Civ. 4070 (RJH) (S.D.N.Y.) Martha Stewart and Peter Bacanovic Agree to Settle SEC Insider Trading Charges"The Securities and Exchange Commission today announced that it has reached an agreement to settle insider trading charges against Martha Stewart and Peter Bacanovic relating to Stewart's sale of ImClone Systems stock in December 2001. Under the settlement, Stewart and Bacanovic agree to pay disgorgement and penalties. Stewart also agrees to a five year bar from serving as a director of a public company and a five year limitation on the scope of her service as an officer or employee of a public company. In August 2004, the Commission barred Bacanovic from associating with a broker, dealer or investment adviser."