Cohen is not likely to testify at Martoma’s trial next month, citing his Constitutional right against self-incrimination. But Martoma’s lawyers would like his testimony from last year to speak for him—and to show that Martoma had nothing to do with the trades that led to his indictment. In a pre-trial motion, Martoma’s lawyers cited Cohen’s statements that he elected to sell the firm’s stake in pharmaceutical company Wyeth LLC not because Martoma suggested he do so—but because former SAC trader Wayne Holman did. Holman, who ran the defunct Ridgeback Capital Management, had a $20 million consulting deal, and Cohen said that the week SAC sold Wyeth, Holman “was telling me he was selling his Wyeth.” [FINalternatives]

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  1. Posted by Guest | December 10, 2013 at 4:48 AM

    Nice. The CYA plausible deniability plan of "research idea already out there" is kicking into full motion.