Steve Cohen Testimony Barred From Martoma Trial

Law360, New York (January 8, 2014, 7:12 PM EST) -- Deposition testimony from SAC Capital Advisors LP founder Steven A. Cohen will not be allowed in the insider trading trial of former SAC portfolio manager Mathew Martoma, a New York federal judge ruled Wednesday.

U.S. District Judge Paul G. Gardephe ruled that Martoma could not as part of his defense introduce a record of Cohen's testimony to U.S. Securities and Exchange Commission investigators.

Prosecutors claim that Martoma, while working for SAC, traded on advance knowledge about problems with a Wyeth and Elan Corp.-developed Alzheimer's drug called...
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