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SEC, former ImClone CEO settle insider trading case

[JURIST] The Securities and Exchange Commission [official website] announced Wednesday that former ImClone Systems [corporate website] CEO Sam Waksal has agreed to pay $3 million to settle charges in the insider trading scandal that sent Martha Stewart to jail [JURIST coverage]. Waksal and his father will also be liable for the repayment of $2 million in ill-gotten gains. The settlement, when approved by the court, resolves the insider trading charges against the Waksals. Read the SEC press release, the SEC litigation release and the amended complaint against Waksal. Reuters has more.

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