SAC Indictment Deadline May Show U.S. Hand on Cohen Deal
This article is for subscribers only.
Prosecutors face a deadline next week that may force them to tip their hand on whether they’re in plea talks with an ex-SAC Capital Advisors LP manager to get him to testify against founder Steven Cohen about insider trading.
Federal speedy-trial rules require Manhattan prosecutors to secure a grand jury indictment by Dec. 26 against portfolio manager Mathew Martoma, who was charged in a complaint Nov. 20 with making illegal trades on two drug company stocks after receiving confidential tips.