NEW YORK, Sept 8- Mathew Martoma, a former portfolio manager at billionaire Steven A. Cohen's SAC Capital Advisors LP hedge fund, was sentenced on Monday to nine years in prison for engaging in what authorities called the most lucrative insider trading scheme in U.S. history. District Judge Paul Gardephe in New York also ordered Martoma, 40, to forfeit $9.3 million.
NEW YORK, Sept 4- A federal judge on Thursday refused to throw out the insider trading conviction of former SAC Capital portfolio manager Mathew Martoma, saying the trial evidence "overwhelmingly demonstrated Martoma's guilt."
NEW YORK, Aug 14- A federal judge rejected billionaire investor Steven A. Cohen's bid to dismiss lawsuits by Elan Corp and Wyeth shareholders who claimed they lost money because his firm SAC Capital Advisors LP conducted insider trading in the drugmakers' stocks.
NEW YORK, June 27- Mathew Martoma, a former SAC Capital Advisors portfolio manager convicted of insider trading, should be sentenced to a "substantial" term of prison beyond the eight years recommended by probation officers, U.S. prosecutors argued Friday. In court papers filed in New York federal court, prosecutors urged U.S.
SAN DIEGO June 23- Dublin, Ireland- based Alkermes Plc has the low-tax domicile currently in vogue among multinational pharmaceutical companies but is not interested in being bought out as it nears the launch of new drugs, its chief executive said on Monday.
NEW YORK, May 28- A prison sentence approaching 20 years would be an appropriate punishment for Mathew Martoma, a former SAC Capital Advisors LP fund manager convicted of insider trading, U.S. court officials said, prompting his lawyers to object strenuously.
NEW YORK, May 28- U.S. court officials said Mathew Martoma may deserve a record prison term for insider trading, perhaps approaching 20 years, prompting strenuous opposition from lawyers for the former SAC Capital Advisors LP fund manager.
In total, SAC Capital has agreed to pay $1.8 billion to resolve criminal and civil probes into insider trading. SAC Capital also agreed to be placed on probation for five years, and employ a compliance consultant, former federal prosecutor Bart Schwartz.
In total, SAC Capital has agreed to pay $1.8 billion to resolve criminal and civil probes into insider trading. SAC Capital also agreed to be placed on probation for five years, and employ a compliance consultant, former federal prosecutor Bart Schwartz. The sentencing marks the end of an era for SAC Capital, which by last year had managed $15 billion of assets.
The probe into insider trading continues with authorities looking at a number of funds, including SAC Capital, a source tells CNBC.
SAC Capital's head trader testified that Steven Cohen had instructed him to start selling Elan stock in accounts that had "less visibility."
A key witness testified in Matthew Martoma's insider trading scandal that he provided Martoma with confidential information about a drug trial.
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A former SAC Capital Advisors trader wants to cite in court some 2012 testimony given by the hedge fund's founder Steven Cohen, claiming it rebuts the government's case.
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