Ex-SAC Manager Martoma Seeks New Trial

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Feb. 28 (Bloomberg) –- Bloomberg’s Su Keenan reports on ex-SAC Manager Mathew Martoma, who was convicted of insider trading, asking a judge to throw out his conviction. She speaks to Mark Crumpton on Bloomberg Television’s “Bottom Line.” (Source: Bloomberg)

They say it's a long shot.

It's his version of a hail mary pass.

An appeal is a very different issue.

This is an important distinction because of the insider-trading cases that have gone to trial, this one did have weaknesses.

Mark, plus lawyers argued that the government failed to prove the information was nonpublic.

The issue had been previously published.

They say the government failed to prove previous criminal intent.

There were no e-mails about trade or taper cos or tape-recorded phone calls.

His team also argues that pretrial publicity, that he was kicked out of harvard for making funny transcripts, got biased the jury.

With the judge right and allowing that in for mission out there?

How might the appeal differ from this latest motion?

It gets into potential errors by the court.

The former prosecutor says that given the highly technical nature of insider trading, it is hard to prove.

There are many would like to see this appeal addressed.

He says the question of whether the trade was a direct result of the information is a great appellate issue.

Even if he passed along insider information, if the trade had nothing to do with the information and was not based on the information, then it is not a crime.

Insider-trading is technically built on proof.

He is serving 11 years in prison , one of the largest for this crime.

Mark, faces 20 years.

Mayny think you'll get life.

The appeal could really have some traction here.

-- some thank you so much.

When he six minutes past the

This text has been automatically generated. It may not be 100% accurate.


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