Friday, 29 May 2015
Last updated 7 hours ago
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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…