Ex-SAC Manager’s Indictment Boosts Pressure to Cooperate
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The insider-trading indictment of ex-SAC Capital Advisors LP portfolio manager Mathew Martoma sets in motion a criminal trial process that puts new pressure on him to cooperate with the government’s investigation of the hedge-fund firm founded by billionaire Steven A. Cohen.
Martoma, 38, was indicted yesterday in what prosecutors have called the biggest insider-trading case in history. The move follows a trial in New York in which prosecutors presented jurors in another case with e-mails they said showed SAC analysts passing inside information to the firm’s fund managers.