Doctor Says He Tipped Former SAC Manager Martoma

Law360, New York (January 14, 2014, 8:19 PM EST) -- A clinical researcher testified Tuesday that he fed confidential information about an Alzheimer’s drug trial to ex-SAC Capital Advisors LP portfolio manager Mathew Martoma.

Joel Ross, an investigator who administered the experimental drug bapineuzumab to patients, said he provided Martoma with confidential safety and effectiveness information on the drug. Martoma is on trial in Manhattan federal court for allegedly making $276 million in profits and avoided losses by using nonpublic information to trade in Wyeth and Elan Corp., the companies behind the drug.

“There was confidential...
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