Prosecutors: No New Trial For Martoma

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.


In Depth

Royalties: The Alternative Assets of the Music Industry

Jul 8 2016 | 7:01pm ET

Recent market volatility has investors seeking greater insight into alternative...

Lifestyle

Vortic: Making Great American Watches Again

Jul 25 2016 | 6:29pm ET

If you are compelled by stories of entrepreneurial vision & drive, or simply...

Guest Contributor

MPI: Like Stellar Returns? Better Understand the Risks First

Jul 22 2016 | 8:44pm ET

When the press reports extraordinarily strong relative or risk-adjusted returns...