Former SAC Trader Convicted of Insider Trading

Mathew Martoma’s federal fraud trial ended yesterday with a conviction for trading on material inside information. Martoma formerly worked as a trader for SAC Capital Advisors, a hedge fund owned by financier Steven A. Cohen. The jury in the Southern District of New York found that Martoma had obtained confidential information about clinical drug trials […]

SAC Capital Advisors Likely to Be Indicted

The New York Times is reporting that sources are saying federal authorities are poised to indict SAC Capital Advisors on charges of insider trading. SAC is a hedge fund operated by billionaire Steven A. Cohen. The report says that Cohen will not be charged in the indictment. Previously, two SAC employees, Matthew Martoma and Michael […]

Trial Date Set in History’s Largest Insider Trading Case

Mathew Martoma, former portfolio manager at SAC Capital Advisors is scheduled to begin trial on federal insider trading charges on November 4, 2013, in the United States District Court for the Southern District of New York. The government alleges that Martoma either made or avoided losses totalling $276 million by trading on inside information in […]