NEW YORK Jan 8 Mathew Martoma, a former SAC
Capital Advisors portfolio manager on trial on charges of
insider trading, cannot introduce excerpts from a deposition of
his former boss, billionaire Steven A. Cohen, a federal judge
ruled on Wednesday.
U.S. District Judge Paul Gardephe in Manhattan also rejected
Martoma's bid to exclude evidence about his role in SAC's
trading in drugmakers Elan Corp and Wyeth, saying it presents
questions of facts that jurors should resolve.
Federal prosecutors have charged Martoma with arranging
trades in Elan and Wyeth, which is now part of Pfizer
Inc, based on confidential information from two doctors
involved in a clinical trial of an Alzheimer's drug.
In a deposition in May 2012 with the U.S. Securities and
Exchange Commission, Cohen told investigators he decided to sell
Wyeth securities after talking with a former SAC trader who went
on to establish his own hedge fund.
Jury selection in Martoma's criminal trial began on Tuesday.
Cohen has not been criminally charged.
The case is U.S. v. Martoma, U.S. District Court, Southern
District of New York, 12-cr-00973.