Martoma Prosecutors Could Get Doctor's Files Soon

Jun 13 2013 | 9:50am ET

Prosecutors are nearing a deal that would give them access to the computer files of the former medical professor who allegedly passed tips about drug trials to a former SAC Capital Advisors portfolio manager.

The University of Michigan, whose medical school employed Sidney Gilman for 35 years before his resignation in disgrace in November, is finalizing an agreement with federal prosecutors in New York, the Financial Times reports. A deal is expected by Monday, a day before the judge overseeing Mathew Martoma's trial was to hold a hearing on the matter.

Michigan said it is wary of producing confidential information about drug trials and patients, and has refused to disclose the encryption key to decode the files on Gilman's computer. Prosecutors have argued that his files could be critical to the case against Martoma.

Gilman is working with prosecutors and has admitted that he passed tips about Alzheimer's disease drug trials to Martoma from 2006 through 2008, allowing Martoma to make trades in the two drug companies leading the tests. Martoma allegedly earned or saved SAC a total of $276 million on the trades.


In Depth

Fundraising for Mid-Sized PE Funds: Should You Use a Registered B/D?

Dec 6 2016 | 7:18pm ET

When does a fund sponsor need to use a registered broker/dealer when raising capital...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

A Hard Look At Your ‘Soft’ Hedge Fund Marketing Information

Dec 8 2016 | 9:03pm ET

Conventional wisdom holds that due diligence examines quantitative as well as qualitative...

 

From the current issue of

Since the inception of Modern Trader, a core editorial theme has centered on the wisdom and power of crowds. Editorial emphasis has focused on companies and projects engaged in the collection and analysis of information. 

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR