Monday, 15 September 2014
Last updated 2 days 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.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
The Federal Reserve keeps baby-stepping toward a “normalization” of monetary policy. But just what is normal?