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A federal jury in New York last week convicted former SAC Capital portfolio manager Mathew Martoma of securities fraud and conspiracy for soliciting information about the clinical trial results of an Alzheimer drug owned by a company in which SAC Capital owned significant holdings. So Reuters reports.
Martoma is the eighth person to be convicted of insider trading in connection with work for SAC Capital, a $14 billon hedge fund owned by the infamous Steven Cohen, whom the SEC is trying to ban from the financial industry.
Read the full article from Reuters.