Ex-SAC Manager Martoma Sought 'Illegal Edge,' Jurors Hear

Law360, New York (January 10, 2014, 7:25 PM EST) -- Former SAC Capital Advisors LP portfolio manager Mathew Martoma "corrupted" a medical researcher to get an "illegal edge" on investments in drug companies Wyeth and Elan Corp., a federal prosecutor said Friday, opening an insider trading trial against him.

Martoma plied a university professor overseeing trials of Alzheimer's drug bapineuzumab with consulting fees and the promise of friendship, Assistant U.S. Attorney Arlo Devlin-Brown told jurors in opening statements in Manhattan federal court.

A key tip from the professor in July 2008, ahead of a public revelation...
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