Friday, 27 November 2015
Last updated 1 day ago
Aug 26 2013 | 10:33am ET
Former SAC Capital Advisors portfolio manager Mathew Martoma has pleaded not guilty—again—to insider-trading charges.
Martoma was responding to a new indictment against him when he appeared in Manhattan federal court on Friday. The revised charges allege that Martoma sought confidential information about pharmaceutical trials from 20 doctors and got it from at least two, using the tips to earn SAC hundreds of millions of dollars.
The allegations against Martoma are also at the center of the criminal case against SAC itself. Prosecutors may be turning up the heat on Martoma in an effort to win his cooperation in that case, cooperation which he has so far declined to offer.
One of Martoma’s sources, former University of Michigan medical professor Sidney Gilman, has admitted tipping Martoma and is cooperating with prosecutors.
In the superseding indictment, prosecutors said they planned to seek forfeitures of between $9.3 million and $13.7 million from Martoma.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…