$$$ Dr. Sidney Gilman, the key witness for prosecutors in the insider trading trial of Mathew Martoma, a former portfolio manager at SAC Capital Advisors, told the jury on Friday that he retired from a teaching position at the University of Michigan rather than be fired after it emerged that he passed on confidential information to Mr. Martoma. “I retired rather than being fired,” said Dr. Gilman, 81, who took the stand on the fifth day of the trial. Explaining why he retired in November 2012, Dr. Gilman said, “I revealed information that was confidential about a clinical drug trial to Mathew Martoma, inappropriately.” [Dealbook]
$$$ATMs Face Deadline to Upgrade From Windows XP [BusinessWeek]
$$$Insider Trading Law Can't Handle Nest and Nestor [BloombergView/Matt]
$$$Falcone Grilled By Ergen Lawyers [NYP]
$$$That's it for us today! Enjoy the long weekend and we'll see you back here on Tuesday!