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Another SAC Capital Insider-Trading Related Hedge Fund Manager


Parsad
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  • 1 month later...

On July 17 2008, Mr Martoma allegedly obtained the final disappointing results of the drug trial from Mr Gilman and three days later, according to the complaint allegedly “spoke to the owner” of the hedge fund where he worked and recommended selling Elan and Wyeth before the drug trial results were made public.

 

The next day, according to the complaint, Mr Martoma and the hedge fund owner instructed a trader to sell its entire 10.5m share position in Elan and 7m shares of Wyeth. The hedge fund also placed a bet that the two stocks would drop.

 

http://www.ft.com/intl/cms/s/0/8b17542a-3327-11e2-8e44-00144feabdc0.html#axzz2CjzrZcem

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