SAC Trader Accused Of Obstruction In $276M Investor Suit

Law360, New York (August 7, 2013, 6:09 PM EDT) -- A class of Wyeth Ltd. and Elan Corp. PLC investors suing SAC Capital Advisors LP over an alleged $276 million insider trading scheme urged a New York federal judge on Tuesday not to block access to key documents from the government's criminal case against trader Mathew Martoma, calling his challenge "obstruction and delay."

U.S. Magistrate Judge Kevin Fox had originally allowed for the discovery request July 19, but Martoma objected to it Friday. The investors, however, call this challenge "obstruction and delay," arguing Martoma lacks standing...
To view the full article, register now.