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Mathew Martoma Has Issues With His Insider Trading Conviction

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1. He's not convinced the government proved he committed securities fraud. 2. He feels pretty strongly that the revelation he created fake Harvard Law School transcripts that were accidentally sent to judges, with whom he was seeking prestigious clerkships, made him look bad.

In a court motion filed Thursday, Mr. Martoma argues that his case should be thrown out because the government failed to prove beyond a reasonable doubt that he traded on material, nonpublic information and because the key witness who testified against him was unreliable. In seeking acquittal or a new trial, Mr. Martoma states that the testimony of Sidney Gilman, the doctor who was the cornerstone of the government's case, had "significant holes" and included "numerous inconsistencies and inaccuracies."

Mr. Martoma also asserts in the filing that media reports of his expulsion from Harvard Law School for falsifying his grades and trying to cover it up biased the jury against him. The Harvard Law controversy wasn't mentioned during the trial, but it was reported by the media during jury selection.

Martoma Appeals Insider-Trading Verdict [WSJ]