On July 16, 2004, Martha Stewart, founder of Martha Stewart Living Omnimedia Inc., was sentenced to five months in prison as part of a stock fraud case. She was also fined $30,000 and sentenced to two years supervised probation. Stewart had been charged with obstructing justice in regards to the government's investigation into whether she had inside information when she sold approximately 4,000 shares of drug-maker ImClone a day before the Food and Drug Administration rejected ImClone's application for a cancer drug.