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Breakingviews: Insider trading follies

Friday, Feb 07, 2014 - 02:58

Feb. 7 - Jeffrey Goldfarb and Reynolds Holding discuss former SAC Capital trader Mathew Martoma’s conviction in New York and why a Chicago verdict is more significant.

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US attorney pre Behar has giving tax Iran for its money. The -- 79 and no insider trading cases the longest running show on Broadway and and got another one yesterday there's one bottom guys. Wasn't Matthew Mark Toma I mean that is the case where the allegations were that that he made four. You know the hedge fund SEC. Advisors 275 billion dollars of losses avoided and up profits -- Biggest ever. But you know think about this case and let's step back -- -- information good information obviously -- according -- -- -- -- this -- is as close Steve -- is. People that got it right and I think this guy that you can't get this kind of turning cough up some information. Maybe they can get Steve Cohen because right before these inside trades he had a twenty minute conversation with Colin. Nobody knows what was said except for the two on the correct sanction of any note was not a -- he's not talking it's an opponent trial take my chances. He lost he lost -- -- hours ago in another notch firm and not earning 79 and now -- great because you know bail out and say it's also a reminder. Well I mean here's the thing most of not only semi I don't know cases not all but most of them were pretty obvious in my in my trauma. He paid a 100000 dollars to his doctor was in charge of a trial and alzheimer's judged. The doctor tipped them before the announcement that the drug wasn't gonna make it that the -- safety issues -- it that you know that's clearly illegal. But much more common things like that it was Chicago case that was signed last week. Where you had a guy he was employee of the rail road. Was looking around you saw strange man -- people he didn't know in the rail yard poke around ask them questions and get it they're sums up I don't know what. I think my company. Is going to be a takeover target turns out -- was right good gas made some money SEC says. Illegal insider trading you'll old Europe employers do not have the -- -- about an hour. And a jury said that's not so I mean here's a guy who you know just he made a good guess he did some diligent my work. And and that's an importance of the differences all this attention is being heaped on Steve colony SEC. Pre Behar is insider trading wins in New York. But there's actually not a lot of constructive. Well the comes out I -- mr. Fuzzy line right past people -- avenue oh my god you know. How -- use information happily use it I'm diligent in doing my research can use at the -- you know one would think obviously that the answer is yes but but the laws Bosnian off where. You know you don't really know where the line is strong in the Chicago case helps draw that one -- -- -- so that's much more important time in this -- -- -- -- sawgrass -- there. Check us out on Twitter at breaking news we'll be back with more next week.

Breakingviews: Insider trading follies

Friday, Feb 07, 2014 - 02:58

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