Ex-SAC Manager Martoma Found Guilty Of Insider Trading

Law360, New York (February 6, 2014, 3:05 PM EST) -- A New York federal jury on Thursday found former SAC Capital Advisors LP portfolio manager Mathew Martoma guilty of orchestrating a $275 million insider trading scheme, the largest such fraud in history.

The jury of seven women and five men found Martoma guilty of one count of conspiracy and two counts of securities fraud, agreeing with the government that he illegally traded on inside information in 2008 about the clinical trial of an Alzheimer's drug being developed by Wyeth Ltd. and Elan Corp. The verdict followed...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.