[via @MatthewGoldstein26]

Former SAC Capital Advisors LP fund manager Mathew Martoma was portrayed by his lawyer as the victim of a “rush to judgment” by prosecutors looking to use him to bring insider-trading charges against his former boss, Steven A. Cohen…“Mathew was just a grain of sand in their haste to make a case against someone who is not even in this courtroom: Mathew’s boss, Steven Cohen,” Richard Strassberg said in his closing argument yesterday in Manhattan federal court. [Bloomberg]

  • 03 Feb 2014 at 3:50 PM

Start Working On Your SAC Capital Eulogies Now

We knew that our time was limited but it wasn’t until this morning that we found out how limited: according to Dealbook, SAC Capital as we know it will cease to exist come mid-March, at which point the firm take on a new name, streamline its “legal entities,” and add a layer of middlemen whose purpose is to make it more difficult for traders to get face time with the Big Guy. Read more »

81-Year-Old Neurologist Proposes Theory Of Memory Evolution

Sidney Gilman—Alzheimer’s specialist, former University of Michigan medical professor and confessed provider of confidential information to the hedge-fund set—used his final moments on the witness stand to offer one more contribution to science. Read more »

Not sure why it would come as much of a surprise that a person who almost successfully conned his way into a prestigious clerkship and then entirely successfully got himself admitted to Stanford Business School despite an expulsion from Harvard would have a complete understanding of basic securities laws, but here you go: Read more »

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]

  • 13 Jan 2014 at 12:00 PM

Exclusive Preview: Harvard Law School Class Notes

1999: ARLO DEVLIN-BROWN Law ’99 writes that you never know where you’ll run into a classmate. He is prosecuting MATHEW MARTOMA (nee Thomas) ’99* on insider trading charges in Lower Manhattan. Devlin-Brown has asked U.S. District Judge Paul Gardephe (unfortunately Penn ’79, Columbia ’82) for permission to talk about Matt’s expulsion from Harvard for doctoring his transcript, so get ready for fireworks! The trial is expected to last several weeks, so for anyone who missed WILLIAM PULLMAN and Lisa Frank’s (Yale ’03, NYU Law ’08, NYU Stern ’08) Christmas Eve nuptials, it would be a great opportunity for a mini-reunion!” Read more »