Former SAC Capital portfolio manager Mathew Martoma has won more time to prepare for his insider trading trial on Tuesday.
Reuters reported that U.S. District Judge Paul Gardephe granted Martoma’s lawyers until June 5 to sort through an “incredibly voluminous” amount of documents. The article said that Judge Gardephe will most likely set a trial date during the June 5 hearing.
Martoma, who worked at SAC Capital affiliate CR Intrinsic Partners, was charged by federal authorities in November for allegedly making over $250 million for the firm using insider information he received regarding an Alzheimer disease drug trial.
Located in Connecticut, the FBI has been investigating SAC Capital since 2007.