Saturday, 28 November 2015
Last updated 12 hours ago
Mar 25 2014 | 10:17am ET
Former SAC Capital Advisors trader Mathew Martoma should not get another opportunity to demonstrate his innocence, prosecutors argued yesterday.
Martoma was convicted of insider-trading last month and will be sentenced in June. But his lawyers have asked the judge presiding to either throw out the guilty verdict or order a new trial. But prosecutors insisted that “the evidence at trial overwhelmingly established that Martoma received material, non-public information,” and should get neither.
Martoma was found guilty of trading on confidential information about Alzheimer’s drug trials, earning or saving SAC $276 million in 2008.
The 39-year-old is likely to face between seven and 10 years in prison at sentencing.
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…