Feds Inch Closer To SAC's Cohen As Martoma Convicted
Law360, New York (February 6, 2014, 7:51 PM EST) -- The government’s decisive win Thursday against former SAC Capital Advisors LP manager Mathew Martoma brings it one step closer to billionaire hedge fund owner Steven Cohen, long considered the ultimate target of a historic insider trading crackdown.
A New York federal jury found Martoma guilty of an insider trading scheme that prosecutors have called the largest in history. The government alleged Martoma culled inside information from two doctors about the clinical trial of an experimental Alzheimer’s drug being developed by Wyeth Ltd. and Elan Corp. Upon hearing that the trial had gone poorly, prosecutors contend, Martoma directed SAC to unwind its...
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