Feds Identify New Tipper In $276M SAC Insider Trading Case

Law360, New York (August 22, 2013, 7:28 PM EDT) -- Federal prosecutors have identified a second source of insider information for former SAC Capital Advisors LP portfolio manager Mathew Martoma, according to a Thursday superseding indictment that adds fresh details to the $276 million case.

The superseding indictment in New York federal court contained no new formal charges but added additional information on Martoma’s purported sources in the pharmaceutical industry. The original Dec. 21 indictment said Martoma received advance word from Sidney Gilman, a University of Michigan professor who chaired the trial’s safety monitoring committee, that the...
To view the full article, register now.