Industry News

Check out the latest news and insight from the ever-evolving world of institutional investing and hedge funds from around the globe.

Jing Chen has been eVestment’s hedge fund industry news reporter since 2011. To submit industry-related press releases or request feature ideas please contact her at editor@evestment.com

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Judge Reschedules Mathew Martoma's Insider Trading Trial

Sep 24, 2013
Jing Chen

The November trial date for former SAC Capital Advisors portfolio manager Mathew Martoma has been postponed.

The Associated Press reported that Martoma, who was charged by federal authorities last November for allegedly making over $250 million for SAC Capital using insider information he received regarding an Alzheimer disease drug trial, will now go on trial in January.

U.S. prosecutors filed a revised indictment against Martoma last month, allegedly that he received confidential information from more than 20 doctors.

Martoma has pleaded not guilty to the charges.

Both Connecticut-based SAC  and its founder Steve Cohen have been charged with various counts of insider trading. The firm manages about $15 billion in assets.

 

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