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Was The Stewart Settlement An Admission of Guilt

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Professor Bainbridge points out that Martha Stewart's settlement with the SEC was pretty much a total capitulation on Stewart's part. She can smile about it all she wants but she basically avoided trial by submitting to the maximum punishment. We guess she saved some money on attorney's fees.

First, she's paying the maximum possible dollar penalties. Second, she's agreed to significant limitations on her abilities to function at her eponymous company Martha Stewart Living Omnimedia. She won't be able to go back on the board of directors or resume her position as CEO. So this is a very big win for the SEC - they couldn't have gotten much more by going to trial and winning. Query whether it's a big enough loss on Stewart's part as to amount to an implied admission of guilt?

Stewart Settles