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Trial Starts for SAC's Martoma

Jan 07, 2014
Jing Chen

Jury selection for Mathew Martoma’s insider trading case began Tuesday.

Reuters reported that court officials handed questionnaires to 80 potential jurors to determine whether they are suitable to sit in a three-week trial for the former SAC Capital Advisors portfolio manager.

Martoma was charged by federal authorities in November 2012 for allegedly making over $250 million for Connecticut-based SAC Capital using insider information he received regarding an Alzheimer disease drug trial.

Some of the questions potential jurors are asked include the extent to which they had read about Martoma’s case or heard of SAC and its founder Steve Cohen.  The judge has also instructed the potential jurors to avoid media reports about the case and SAC Capital.

SAC had about $14 billion in total assets under management as of July 1, however the firm is currently in the process of transitioning into a family office following its guilty plea to insider trading in November. 

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