Next generation “SaaS” Securities and Exchange Commission (SEC) regulatory disclosure service iCrowdNewswire has launched an…
Publisher: Bloomberg Magazine
Author: Bob Van Voris and Patricia Hurtado
On February 6th, 2014, jurors in a Manhattan federal court found Mr. Mathew Martoma guilty on charges of insider trading for their 7th conviction in the SEC© investigation of SAC Capital Advisors LP.
Mr. Martoma was accused of using non-public information on the results of clinical trials for an Alzheimer medication in order to reap a $275 million dollar benefit for his fund. The trial marks another success for the US Government in criminal cases involving insider-trading allegations and follows the successful conviction of another SAC Capital Advisors LP fund manager Michael Steinberg, who was convicted earlier. The successful conviction marks another win for the SEC© and may embolden prosecutors to go after Stephen Cohen, the billionaire founder of SAC Capital Advisors.
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What are your opinions on the SEC’s persistence in pursuing criminal trials for alleged insider-trading?