Mathew Martoma Apparently Had A Lot Of Dr. Friends Willing To Take It Fast And Loose With The Words "Confidential Drug Trial Results, Do No Distribute"
U.S. prosecutors on Thursday filed a superseding indictment in the insider trading case against a former portfolio manager at an affiliate of Steven A. Cohen's hedge fund SAC Capital Advisors, according to court papers. The superseding indictment describes a second doctor who allegedly passed inside information to the former portfolio manager, Mathew Martoma, who was charged last November with insider trading in shares of the drug companies Elan Thursday's court filing said the doctor, described as "a co-conspirator," met with Martoma for paid consultations arranged through an expert networking firm and provided non-public information "with the expectation that Martoma would assist (the doctor) in obtaining additional clinical trial business." [Reuters, related]
