Martoma Tipster Quits University Post

Nov 30 2012 | 12:22pm ET

The neurologist who allegedly served as former SAC Capital Advisors portfolio manager Mathew Martoma's inside source has resigned from his faculty post at the University of Michigan.

Sidney Gilman quit on Nov. 27, the University of Michigan Medical School said. Gilman, 80, has been at Ann Arbor since 1977 and led the Medical School's neurology department from then until 2004 and was chief of the university hospital's neurology practice, as well. Until this week, he remained a professor at the school, a practicing neurologist and director of the Michigan Alzheimer's Disease Research Center.

Gilman has already struck a deal with authorities, agreeing to repay nearly $186,781 he received from the expert-networking firm that connected him to SAC and his fees for consulting on Alzheimer's drug tests for Elan Corp. and Wyeth LLC. He will not be prosecuted and is cooperating with the authorities.

Gilman admitted that he passed confidential information about the drug tests to Martoma from 2006 through 2008, allowing Martoma to make trades in Elan and Wyeth that earned or saved SAC a total of $276 million. Gilman was chairman of the safety-monitoring committee overseeing the drug trials.


In Depth

Part II: Roubini Talks Risk, Recovery And The Threat Of A Triple Dip Recession

Oct 21 2014 | 12:41pm ET

In the second half of our interview with Nouriel Roubini, FINalternatives editor...

Lifestyle

Balyasny Pays Over $6M For Lakefront House

Oct 22 2014 | 10:29am ET

A venture headed by hedge fund manager Dmitry Balyasny just paid $6.2 million for...

Guest Contributor

Hedge Funds Weather A Data Management Perfect Storm

Oct 22 2014 | 12:28pm ET

From a regulatory standpoint, nearly every development since the crisis has placed...

 

Videos

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

October 2014 Cover

Deeply flawed risk benchmark

Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.