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Ex-SAC Trader Says He Feared Losing Job Over Drug News

Mathew Martoma’s former SAC Capital Advisors LP trader testified he came to work on July 29, 2008, thinking he and his boss might lose their jobs.

“I believed that we had incurred significant losses in our portfolio,” the former trader, Timothy Jandovitz, said yesterday in Martoma’s insider-trading trial. Jandovitz, the first witness called by prosecutors, told jurors he believed that bad news about a clinical drug trial had caused losses in the fund managed by Martoma “north of $100 million.”