ImClone’s Waksal Discusses Guilty Plea

Samuel D. Waksal, the former chief executive of ImClone Systems Inc. who last month was accused of insider trading, is talking to the government about pleading guilty in exchange for a reduced sentence, federal prosecutors said.

The prosecutors also are investigating whether Martha Stewart may have benefited from insider tips from Waksal, a friend with whom she shared a broker. Waksal’s cooperation in the probe might help win him lenient treatment.