Jury Consults Defense Testimony In Martoma Case

Feb 6 2014 | 11:49am ET

Is former SAC Capital Advisors portfolio manager Mathew Martoma about to break prosecutors' perfect record in the government's insider-trading crackdown?

The jury is still out, having deliberated for a second day without reaching a verdict. But the panel requested testimony yesterday that could be a sign it is leaning towards finding him "not guilty."

The jury yesterday asked to see the transcript of Thomas Wisniewski's time on the stand. Wisniewski, a New York University medical professor who testified for the defense, said that he saw "no substantial difference" between the allegedly insider information about a drug test results and a press-release issued by the two drug companies Martoma is accused of illegally trading.

If the jury believes that the information was already publicly available, it cannot convict Martoma. That would be a first: Prosecutors have won 78 convictions or guilty pleas in insider-trading cases in recent years, against zero acquittals.

The jury resumed its deliberations today.


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