Ex-SAC Manager Gets Time To Build Insider Trading Defense

Law360, New York (March 5, 2013, 8:36 PM EST) -- A federal judge on Tuesday delayed progress in the insider trading case against former SAC Capital Advisors LP portfolio manager Mathew Martoma, giving his lawyers more time to mount a defense.

U.S. District Judge Paul G. Gardephe said Martoma’s team could have three more months to look over evidence against their client. Prosecutors have charged Martoma with making $276 million by trading based on advance knowledge of trials on a Wyeth Ltd. and Elan Corp. PLC drug.

If proven, it would be the most profitable insider...
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