Someone named Ronald Weiland reckons that he is a victim of alleged insider trading at SAC Capital Advisors. And while he certainly lost a lot of money, I can't see how SAC had anything to do with that.
It certainly was easy to lose money trading Elan in 2008. That year, Elan had been testing an Alzheimer's drug called bapineuzumab. The stock ran up sharply in the weeks leading up to the July release of the clinical results. The results were not encouraging and the stock dropped 42 percent on July 30, the first trading day following the release.