Morrison Dooms Part Of SAC Insider Case, Ex-Trader Says

Law360, New York (July 1, 2013, 8:05 PM EDT) -- Former SAC Capital Advisors LP manager Mathew Martoma on Friday urged a New York federal court to throw out insider trading charges related to transactions in the stock of Irish firm Elan Corp. PLC, citing the U.S. Supreme Court's decision to bar claims over foreign securities in Morrison v. National Australia Bank Ltd.

Martoma, accused of reaping $276 million by trading on inside information about a drug trial conducted by Elan and Wyeth Ltd., filed a motion to dismiss claims related to trades in Elan stock....
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