Martha Stewart

By: Associated Press
By: Associated Press

Martha Stewart's lawyer says Stewart plans to plead innocent if she is indicted in an insider trading scandal.

The attorney, Robert Morvillo, says Stewart is prepared to proceed to trial.

The statement comes hours after Stewart's media company announced that she soon could face criminal charges.

It's also expected that a civil complaint could come against Stewart.

She has been the target of a criminal investigation, stemming from the sale of her shares in ImClone Systems in December 2001. Stewart sold the shares one day before disappointing news surfaced regarding the company's key cancer drug, sparking a sharp drop in ImClone's stock price.

Stewart has denied any wrongdoing in the ImClone sale.

Shares of Martha Stewart Living Omnimedia were down more than 17 percent in late morning trading on the New York Stock Exchange.


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