Tuesday, 23 September 2014
Last updated 7 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.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitich, CIO of Petty Endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.