May the Probability be with you!
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SAC Capital insider trading trial heads to the jury
The federal trial of Mathew Martoma, a former portfolio manager for SAC Capital charged with insider trading, goes to the jury on Tuesday. Federal prosecutors from the Southern District of New York have charged Martoma with two counts of securities fraud and conspiracy to commit securities fraud. He allegedly obtained inside information about the drug stocks Elan and Wyeth in a pump-and-dump scheme worth $276 million. The most serious charge, securities fraud, carries a sentence of up to 20 years. Martoma is one of 87 defendants caught up in a federal crackdown on insider trading. Their ranks include eight at SAC ... (full story)