Ex-SAC Manager Accused Of Insider Trading Freed On $5M Bail

Law360, New York (November 26, 2012, 6:04 PM EST) -- A former portfolio manager for SAC Capital Advisors LP who was arrested and charged with insider trading in connection with an Alzheimer's disease drug trial that allegedly netted the hedge fund about $276 million was released on a $5 million bail deal Monday.

Mathew Martoma, 38, of Boca Raton, Fla., who was a portfolio manager for SAC unit CR Intrinsic Investors LLC, appeared before a federal judge in Manhattan, where he agreed to a deal to secure his pretrial release by posting $2 million in cash...
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