SAC Manager Arrested In $276M Insider Trading Case

Law360, New York (November 20, 2012, 4:01 PM EST) -- A former portfolio manager for SAC Capital Advisors LP was arrested Tuesday and charged with insider trading involving a treatment for Alzheimer's disease that allegedly netted the hedge fund about $276 million, a new record, according to prosecutors.

Mathew Martoma, who was a portfolio manager for SAC unit CR Intrinsic Investors LLC, allegedly earned the hedge fund more than a quarter of a billion dollars using advance knowledge about problems in a drug called bapineuzumab that was being developed by Wyeth and Elan Corp. He was...
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