Dr. Ross said that after their initial meeting, during which he confirmed the confidential side effect, he began regularly sharing trial results with Mr. Martoma about the patients he was giving the drug to, in breach of his confidentiality agreement with Elan. Dr. Ross said that in addition to the consultation fees, he was motivated by tapping Mr. Martoma’s contacts in the pharmaceutical and financial-services industry to help his new clinical-testing business, Iberica USA. In May 2008, Dr. Ross emailed Mr. Martoma asking for connections. “I have now opened the [testing center] as you know, and need to contact as many small biotech companies as possible,” Dr. Ross wrote in an email that was shown to jurors Tuesday. “I appreciate your help, and will be happy to return the courtesy in other ways.” Those “other ways” were sharing confidential trial results, as he had done before, according to Dr. Ross Mr. Martoma responded in another email shown to the jury that the courtesies weren’t needed, and he was happy to help a “friend.” But Dr. Ross said Tuesday the two weren’t friends. “It was more of a professional relationship on a contractual basis,” he said. [WSJ]

22 comments (hidden to protect delicate sensibilities)
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Comments (22)

  1. Posted by Doodie | January 15, 2014 at 9:31 AM

    “It was more of a professional relationship on a contractual basis"

    That is what I said! I don't get why people made such a fuss.

    -E. Spitzer

  2. Posted by Francois Hollande | January 15, 2014 at 9:34 AM


  3. Posted by Guest | January 15, 2014 at 9:36 AM

    "He left Harvard in December 1998 without attaining a degree, according to the school’s registrar, and attended Stanford Business School, MBA class of 2003. . .In 2001, he changed his name from Ajai Mathew Mariamdani Thomas, according to the clerk of the circuit and county court in Brevard County, Florida. His father had changed his name to Martoma from Thomas two years before."

    Anybody know why his Dad would jump first into the name change game two years earlier than him? Was this guy that calculated that he asked his Dad to change his name right after being booted from Harvard, so it wouldn't be as sketch when he later changed his prior to applying to MBA programs?

  4. Posted by Joe Nazhar Sr | January 15, 2014 at 9:41 AM

    Maybe the dad didn't want to be associated with that POS.

  5. Posted by The Fapper | January 15, 2014 at 10:11 AM

    Fap fap fap fap

  6. Posted by guest | January 15, 2014 at 10:17 AM

    he's a duke alum so it's par for the course that he turned out to be a douchy con artist hack that made literally *one* good trade in the history of his career. the only way duke alums make money via fraud or nepotism

  7. Posted by Guesticular Cancer | January 15, 2014 at 10:37 AM



  8. Posted by Duke | January 15, 2014 at 11:09 AM

    It helps me keep my sanity

  9. Posted by SF and Denver | January 15, 2014 at 11:27 AM

    He's a crook. This is outright illegality. Not like subtly holding bids on settlement which doesn't guaranty results.

  10. Posted by Sales Trading | January 15, 2014 at 11:29 AM

    I think the collapse in his P&L the last two years is going to be the nail in the coffin. Shows what a sham any of the research he was doing actually was absent criminal bribery and conspiracy.

  11. Posted by Anonymous | January 15, 2014 at 11:37 AM

    The funny thing about my back is that it's located on my cock.

  12. Posted by guest | January 15, 2014 at 12:00 PM

    aside from lawyers, wonder how many millions Cohen is giving him not to turn?

  13. Posted by DA NY # 12 district | January 15, 2014 at 12:20 PM

    It would have to be as a forward, and that's a counterparty risk only a fool would take.

  14. Posted by Guest | January 15, 2014 at 12:40 PM

    I'm curious how long DB is going to ride Morgan Stanley's dick in the Banner. Anyone wanna give me the Over/Under?

  15. Posted by Bartoma | January 15, 2014 at 12:56 PM

    Apparently they've had Shazar working on how to take it down for a few now.

  16. Posted by guest | January 15, 2014 at 1:01 PM


  17. Posted by guest | January 15, 2014 at 1:02 PM

    that you jamie?

  18. Posted by Guest | January 15, 2014 at 2:37 PM

    Yeah that's going to be a problem. It's gonna be a problem for them. This a clear violation of your rights as a trader. It's an infringement on your constitutional rights. It's outrageous, egregious, preposterous.

    – Jackie Chiles, Seinfeld

  19. Posted by Mexi_Cant | January 15, 2014 at 3:29 PM

    Why do you always have to bring up the legitimate years!

  20. Posted by $niper | January 16, 2014 at 10:22 AM

    My guess is that if martoma is found guilty n the feds seize his millions, Cohen will b around the corner waiting to hand martomas wife double what the gov has seized. Have the feds looked into Cohen or his associates making payments to his convicted traders or their families?

  21. Posted by Guest | January 16, 2014 at 11:38 AM

    Thanks for the the "Seinfeld" clarification

    -Guest poster, dealbreaker.com (the website on the internet)

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