Feds Urge Jury To Convict Ex-SAC Trader Martoma

Law360, New York (February 3, 2014, 9:24 PM EST) -- Former SAC Capital Advisors LP manager Mathew Martoma used inside sources as a “canary in the coal mine” to illegally earn $275 million for the hedge fund, a federal prosecutor said Monday during closing arguments in the closely watched case.

The sources, Sidney Gilman and Joel Ross, provided Martoma with inside information about a failed Alzheimer’s drug trial in 2008, Assistant U.S. Attorney Eugene Ingoglia told jurors in a packed New York federal courtroom. The all-day hearing capped a four-week trial over what prosecutors have called...
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