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Second doctor described in new indictment against SAC's Martoma
August 22, 2013 / 8:19 PM / in 4 years

Second doctor described in new indictment against SAC's Martoma

NEW YORK, Aug 22 (Reuters) - U.S. prosecutors on Thursday filed a superseding indictment in the insider trading case against a former portfolio manager at an affiliate of Steven A. Cohen’s hedge fund SAC Capital Advisors, according to court papers.

The superseding indictment describes a second doctor who allegedly passed inside information to the former portfolio manager, Mathew Martoma, who was charged last November with insider trading in shares of the drug companies Elan and Wyeth, which is now a part of Pfizer.

Thursday’s court filing said the doctor, described as “a co-conspirator,” met with Martoma for paid consultations arranged through an expert networking firm and provided non-public information “with the expectation that Martoma would assist (the doctor) in obtaining additional clinical trial business.”

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